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[MARKET ANALYSIS] Flat trade across most G10s, but Antipodeans reside on either side of the table

Newsquawk StaffPublished On the live feed at — 5 more headlines followed before this page went public
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Goldman Sachs lifts its end-2026 S&P 500 target to 8000 (prev. 7600), amid AI driven growth following a strong Q1 reporting season.

There is a decisive US message to Israel to ban targeting Beirut, Sky News Arabia reports quoting Channel 12; "Washington fears that strikes in Beirut could derail negotiations with Iran and expand the scope of escalation in Lebanon"

[MARKET ANALYSIS] Flat trade across most G10s, but Antipodeans reside on either side of the table

[MARKET ANALYSIS] Fixed income benchmarks bid amid a lack of geopolitical updates and quiet calendar

Hungary’s government spokesman said technical talks with the EU are underway on multiple EU funding issues, while a meeting between the Hungarian PM and European Commission President has not yet been scheduled

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  • DXY trades within a relatively narrow 99.04-99.14 range at the time of writing amid a lack of major geopolitical updates and drivers, as participants look for a more definitive direction with regard to the mediation efforts to end the US-Iran war. The index remains tucked within yesterday’s 98.98-99.25 range. Earlier, modest downticks coincided with comments from Fed’s Kashkari, who said it is too early to predict the timing of the next Fed action when asked about market pricing for an October rate hike.
  • Kiwi is the best performing G10 currency following the RBNZ's hawkish hold, in which it kept the OCR unchanged, but stated the OCR will most likely need to increase sooner and by more than envisaged in the February MPS. NZD/USD reside in a USD 0.5835-0.5880 range. AUD/USD was hit by softer-than-expected inflation. AUD/USD and AUD/NZD reside towards the bottom of 0.7180-0.7136 and 1.2287-1.2146, respectively.
  • Other G10s are largely flat vs the USD. CAD is subdued by oil prices, JPY saw softer-than-expected Services PPI data and comments from BoJ Governor Ueda, who warned that energy shocks may become more persistent. EUR overlooked further hawkish ECB commentary, whilst GBP was unreactive to the Ofgem’s expected energy price cap rise.

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