Global markets find some rare stability after Donald Trump’s temporary pivot on computer and phone imports. China’s exporters are stopping shipments anyway. Singapore eases monetary policy. New Zealand’s economic recovery appears to stall.
In the first part of a bonus Deep Dive interview with ANZ’s Senior Rates Strategist Jack Chambers, he talks about the US dollar’s reserve currency status — its exorbitant privilege.
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9:32
Monday: Computer exemption relief may be temporary
The White House quietly exempted computers and phones from reciprocal import tariffs on Friday night after markets closed, but a Trump official has said the exemption is temporary. US consumer confidence slumps. Gold hits a record high.
In our bonus deep dive interview, ANZ’s Senior Commodities Strategist Daniel Hynes explain why oil prices have fallen more than 15% in the last fortnight.
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9:09
Friday: Safe-haven demand lifts gold to US$3,193/oz
US stocks are down as the White House points out total tariffs on China actually add up to 145%. Gold jumps to a record high. China is set to cut interest rates in response to Trump’s tariffs. And New Zealand’s truck movements indicate a sluggish recovery.
In our bonus deep dive interview, ANZ Group Chief Economist Richard Yetsenga analyses yesterday’s pivot by Donald Trump to pause global tariff hikes, apart from China.
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9:46
Thursday: Markets jump after tariff pause
Donald Trump pauses reciprocal tariffs for 90 days, unleashing a furious rally in stocks, but increases his tariff on China to 125% after China retaliates. The Reserve Bank of New Zealand cuts rates by 25 basis points as expected, as does the Reserve Bank of India. Meanwhile, the Yen is attracting safe-haven demand.
In our bonus deep dive interview, ANZ Economist Sophia Angala reviews how Australian states and territories performed at the end of last year.
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9:46
Wednesday: 104% tariff on China confirmed
Global stocks initially rose overnight on hopes for trade deals, but are off their highs in late US trade on confirmation China’s exports will face a 104% tariff within the day. The RBNZ is set to cut today, but will it be 25 bps or 50? And confidence surveys in Australia and New Zealand show confidence rebounded, but that was before the tariff news.
In our bonus deep dive interview, ANZ’s Group Chief Economist Richard Yetsenga says the market reaction to the US administration’s latest tariff announcements could result in a Trump pivot.
Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/
Start your day with 5 in 5 with ANZ. You’ll hear the five things you need to know about the global economy and markets in under 5 minutes. Plus a deep dive into emerging trends and issues. Hosted by business and financial journalist Bernard Hickey, the podcast features exclusive insights from ANZ’s global team of experts.
Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/
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