Eamonn Sheridan

New Zealand Finance Minister on Iran war: Inflation could hit 7.4% (worst case scenario)

Tesla to ramp capex to $25bn as AI push deepens despite strong Q1 cash flow

• The shift toward sharply higher capex reinforces Tesla’s positioning as an AI and autonomy play rather than a traditional automaker. While the strong cash flow print supports near-term confidence, the move to negative free cash flow and heavy spending raises execution risk and increases sensitivity to delivery on long-term growth promises.

South Korea Q1 growth surges past forecasts on semiconductor export boom

• Q1 GDP: +1.7% q/q (exp. +1.0%) → strongest since Q3 2020

Australian preliminary April PMIs jump back into expansion

• Australia’s PMI rose to 50.1 in April from 46.6, signalling stabilisation. Services drove the rebound, but demand remains weak and cost pressures surged to the highest since 2022 amid rising fuel and shipping costs, pointing to a fragile outlook.

Gold steadies after drop as Iran tensions and dollar keep prices rangebound

• Gold’s price action reflects a market caught between easing geopolitical risk and softer dollar dynamics. Without a clear escalation or resolution in the Iran conflict, range trading is likely to persist. A stronger dollar could pressure gold further, while renewed tension or oil-driven inflation risks would quickly restore upside momentum.