Tuesday 18th March 2025

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Equities had a good session overnight on both sides of the Atlantic, perhaps because there wasn’t much in the way of bad news. The headline number of US retails sales was weaker than anticipated, but NAB’s Taylor Nugent says it wasn’t bad when you looked a little deeper. The Empire Sate Manufacturing index showed a big dip but is also considerably volatile. Markets weren’t too excited by the press conference in China where authorities announced their special initiatives to boost domestic consumption, but it continues to be a cautious approach, although it might have helped the Aussie dollar a little, which rose more than other major currencies. The news to look out for today relates to Ukraine – Trump and Putin are talking, will they reach a ceasefire deal that Ukraine will agree to? 

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