China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
US Dollar Hits One-Year High as Hawkish Fed Outlook Overshadows Middle East Developments 
New Zealand Fast-Tracks Gold Mining as Industry Revival Gains Momentum 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Dollar Holds Firm as U.S.-Iran Talks Ease Tensions, GBP/USD Slips Amid UK Political Uncertainty 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Japan Keeps Markets Guessing as Yen Nears 40-Year Low, Raising Intervention Risks 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
Oil Prices Fall as Iran Peace Talks Progress, Hormuz Reopens, and U.S. SPR Hits 1983 Low 
Australia’s consumer price index (CPI) inflation grew less than expected in the fourth quarter, signaling a slowdown but still remaining above the Reserve Bank of Australia’s (RBA) target range.
Data from the Australian Bureau of Statistics showed CPI rose 2.4% year-on-year in Q4, its slowest pace since early 2021, slightly below forecasts of 2.5% and easing from 2.8% in the prior quarter. On a quarterly basis, CPI increased 0.2%, just below expectations of 0.3%.
Trimmed mean CPI, which excludes volatile energy prices, rose 3.2% annually, slightly below estimates of 3.3% but still above the RBA’s 2%-3% target range. Monthly CPI stood at 2.5% in December, up from 2.3% in November, reflecting inflationary pressures from holiday spending.
Despite government subsidies easing energy costs, strong consumer spending on recreation and travel kept underlying inflation elevated. Australia’s robust labor market continues to support demand, preventing inflation from cooling further.
The RBA meets in mid-February, but it has provided no clear signals on rate cuts. The central bank expects inflation to return sustainably within its target only by 2026, indicating that interest rates may remain steady for now.
Markets are watching closely for RBA’s next move as inflation trends remain a key factor in its monetary policy decisions.
