- Westpac warns of Middle East second-round CPI effects, still forecast an August RBA hike
- BOJ June summary flags faster hike calls as markets price another move by year-end. Recap.
- Australia May CPI undershoots on headline but core inflation tops forecasts at 3.6%
- Samsung $65bn buyback and new chip cluster talks spark South Korea equity bounce
- BofA lifts Nikkei target to 76,000 on AI demand, Hormuz relief and rising corporate ROE
- Australian May 2026 Headline CPI 4% y/y (vs. expected 4.3%), core 3.6% y/y (expected 3.5%)
- PBOC sets USD/ CNY mid-point today at 6.8195 (vs. estimate at 6.7)
- Anthropic's Mythos model exposes major flaws in classified US systems
- UBS sees market pricing of two Fed hikes as too aggressive ... get gold!
- Japan May services PPI holds at 3.3% as freight and air costs surge on fuel shock
- BOJ June summary reveals broad support for rate hike alongside sharp deflation warning
- TD joins big four banks flagging Australian inflation relief, all roads lead to RBA hold
- Gold faces $3,800 risk if Fed pivots to hikes, Deutsche Bank warns
- Retail investors chase AI upside as pros stay cautious and Nasdaq longs pile up
- UN shipping agency begins evacuating hundreds of ships stranded in Gulf via Hormuz
- Alphabet will replace Verizon in the Dow Jones Industrial Average
- Congress delivers historic but toothless war powers rebuke over Iran conflict
- Morgan Stanley North Haven fund pays out less than half of Q2 investor withdrawal requests
- investingLive Americas FX news wrap 23 Jun: Stocks tumble as USD extends gain. Oil lower.
- Private survey inventory shows a headline crude oil draw smaller than expected
Session wrap summary points:
- Australia's May headline CPI slowed to 4.0%, well below the 4.3% forecast, but trimmed mean core inflation accelerated to 3.6% year-on-year, above estimates, keeping RBA August hike odds at around 36% and December at 67%
- The Australian dollar languished near 11-week lows and the kiwi sat at a seven-month trough as the mixed CPI data and broad USD strength weighed on antipodean currencies
- Gold extended losses as markets continued to price two to three Federal Reserve rate hikes over the next 12 months, with Fed Chair Warsh's hawkish signals from last week's FOMC meeting remaining the dominant narrative
- The BOJ's June Summary of Opinions showed some members calling for hikes every few months to reach neutral rate, with roughly 90% of economists now expecting another move by December and the cycle peak revised up to around 1.75%
- Samsung jumped as much as 10% in early Seoul trade on a Yonhap report of a 90 trillion won share buyback plan, with South Korea's government simultaneously flagging imminent announcements on a new AI chip cluster with Samsung and SK Hynix; gains faded as the morning progressed
- Morgan Stanley's $7 billion North Haven private credit fund said it would pay out less than half of Q2 redemption requests, capping exits at 5% as withdrawal demand hit 11.6% of shares
- Alphabet will replace Verizon in the Dow Jones Industrial Average ahead of Monday's open next week, S&P Global confirmed
A split Australian inflation print set the tone for Asia-Pacific markets on Wednesday, with headline CPI undershooting forecasts but core measures accelerating, leaving the RBA's policy path unresolved and the Australian dollar pinned near 11-week lows. The kiwi fared no better, sitting at a seven-month trough as broad US dollar strength compounded the pressure on antipodean currencies. Westpac retained its August hike call, arguing that Middle East second-round effects are broadening across consumer prices in ways that the headline miss obscures, while markets settled on 36% odds for August and 67% for December.
In Japan, the BOJ's June Summary of Opinions confirmed a board majority pushing toward neutral, with some members explicitly calling for hikes at intervals of a few months. Roughly 90% of economists now expect another move by December, and the projected cycle peak has been revised up to around 1.75%. The yen remains near 40-year lows despite the June hike, keeping import cost pressures alive and the hawks well-armed.
Seoul provided the session's sharpest price action. Samsung surged as much as 10% early in the day on a Yonhap report of a 90 trillion won buyback plan, amplified by government confirmation of imminent announcements on a new AI semiconductor cluster with Samsung and SK Hynix. The gains faded as the morning wore on. Gold continued to slide, with the Fed hike narrative keeping the pressure on, and Morgan Stanley's North Haven private credit fund added to the sector's mounting liquidity headlines by capping Q2 redemptions at 5% against withdrawal demand of 11.6%. Away from macro, Alphabet will join the Dow Jones Industrial Average ahead of Monday's open, replacing Verizon.
Oil inventory data ahead of official data due Wednesday morning in the US showed the SPR at its lowest level in more than 40 years.
