Kyle Rodda

Markets are increasingly confident that the Reserve Bank of Australia (RBA) will cut interest rates at its 20 May policy meeting, with cash rates futures pricing as of May 19th suggesting a 96% chance of a 25 basis point reduction.

Oil prices are drifting lower as global markets contend with a classic supply-demand double whammy. A confluence of weaker demand—driven by US trade policy—and a surge in supply from OPEC and potentially Iran, is exerting sustained downward pressure on crude benchmarks.

Risk assets are pushing higher as investor optimism builds around the prospect of easing trade tensions between the US and key global partners.

Global markets rallied to start the week on signs of renewed diplomatic momentum between the United States and China, following constructive messages from both sides during high-level trade talks in Switzerland.

Australia’s labour market and wages data for the March quarter and April month are set to take centre stage this week, with implications for the Reserve Bank of Australia's (RBA) upcoming interest rate decision on May 20.

FOMC Preview May 2025

Amazon (AMZN) is set to report its Q1 2025 results after the close on May 1, with investors closely watching how the e-commerce and cloud giant is navigating a more challenging macroeconomic environment.

Apple (AAPL) is scheduled to report its fiscal second-quarter (Q2 FY2025) results after the close on May 1, with investors weighing slowing demand trends against renewed geopolitical risks, notably the reemergence of US-China trade tensions.

Global markets experienced another tumultuous week as sentiment continued to swing between optimism and fear, driven largely by the Trump administration’s evolving trade policies.

US economic growth appears to have stalled sharply heading into the first quarter of 2025.