Global markets are navigating a complex landscape, balancing hawkish central bank signals with burgeoning optimism in the technology sector. The US500 and US100 indices reached record highs, buoyed by strong performances from semiconductor firms like Micron Technology. However, central banks, including the RBNZ, continue to emphasize that inflation control remains a priority, with the RBNZ’s recent decision to maintain rates at 2.25% reflecting a divided committee.

In commodities, geopolitical developments in the Middle East are influencing oil prices, with WTI retreating to the $91–92 per barrel range amid easing tensions over US–Iran relations. Recent macroeconomic data shows mixed signals, such as Australia’s CPI slowing to 4.2% y/y while core inflation persists, indicating ongoing price pressures.

Market professionals should watch for key economic releases today, including the Richmond Fed manufacturing index and API crude oil inventories, as these could provide further insights into economic trends and market direction.

Source: xtb.com