Equity markets brushed off inflationary pressures and moved to trade around record highs. Tech stocks remain under some pressure, as supply line price pressure from inflation, impacts retail. The PCE inflation indicator, jumped to an annualised 4.4%, reflecting the impact of the energy crises. That may be in the rear-vision mirror now, as Middle East peace negotiations progress. The US Dollar eased a shade overnight, with the GBP looking to regain 1.3200, while the EUR edged up to 1.1370.
The softer reserve allowed commodity currencies to stabilise, with the AUD regaining 0.6900, while the NZD trades around 5650. Australian Unemployment improved slightly, dipping to 4.4%. while US GDP growth jumped to an annualised 2.1%.
