US shares tanked, to close out yet another extremely volatile week, on both equity and bond markets. Tension is building in the Middle East, over fears that the US may be about to launch another massive attack on Iran. The ditching of broad equity markets was a boon for investment in bond markets, with yields falling from record highs. This coming week welcomes a tsunami of economic data readings, including important inflation and growth readings from Asia, Europe and the US. Central Banks will play a central role in market direction, with the Fed leading the way on their latest interest rate decision. The US Dollar edged higher to close out the week, with the EUR slipping back below 1.1200, while the GBP surrendered 1.3400.Commodity currencies fared much better than European currencies, with the AUD consolidating above 0.7000, while the NZD looks to hold 0.5700 despite the stronger reserve. This coming week will see enormous activity on local markets, with important readings on Australian inflation, while pressure builds on the RBNZ to raise rates.
