US stocks rally as the US Treasury Secretary says the US-China trade conflict is unsustainable and is likely to ‘de-escalate’ soon. But surveys show weaker US economic activity in April due to tariff uncertainty. Also: gold backs off a new high.

In our bonus Deep Dive interview, as ANZ Research downgrades its Asia-ex China growth forecasts, ANZ Chief Economist for Southeast Asia and India Sanjay Mathur analyses how policymakers might respond to the tariff shock.

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The ‘Sell America’ trade is back with a vengeance this morning after Donald Trump threatened the Fed’s independence again. The ECB cuts rates, with further easing expected, and Australia’s jobs market stays strong ahead of expected RBA rate cuts.

In our bonus Deep Dive interview, ANZ Group Chief Economist Richard Yetsenga analyses the risks inherent in Donald Trump’s comments challenging the US Federal Reserve’s independence.

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Global stocks slump again after Donald Trump restricts Nvidia chip exports to China. Safe-haven buying blasts Gold to US$3,349/oz. ANZ Research cuts its growth forecasts for US and China, and lowers its cash rate view for New Zealand

In our bonus Deep Dive interview ANZ Economist Vicky Xiao Zhao explains ANZ Research’s downgrade to its China growth forecasts as tariff uncertainty takes hold.

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Stock markets were stable overnight although the volatility may be short-lived. The Reserve Bank of Australia opens up for a May rate cut, while tariff uncertainty starts to show through in Australian consumer confidence.

In the second part of a bonus Deep Dive interview on the US dollar’s reserve currency status, ANZ’s Senior Rates Strategist Jack Chambers explains why the Aussie dollar’s relationship with the US dollar is so important for Australian pension funds.

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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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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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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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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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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.

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Global markets are very volatile again this morning after Donald Trump threatened another 50% tariff on China. Hong Kong stocks fell 9.5%, their worst day since 1997. The Aussie dollar falls below 60 USc to a five-year low. The Kiwi is at a 16-year low.

In our bonus deep dive interview, ANZ’s Chief Economist for Greater China, Raymond Yeung, looks at whether China will now push even harder to de-dollarise its foreign reserves.

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