US stocks and the US dollar are down again on nerves about tech earnings. China exempts some US imports from tariffs, but a wider deal is unlikely. And ANZ Research changes its Bank of Japan call to no hike this week, from a hike.
In our bonus Deep Dive interview, ANZ Economist Krystal Tan reviews how South Korea’s political turmoil put its economy on the back foot before the tariff shock.
5 things to know in 5 minutes:
US stocks are down around 1% this morning as uncertainty over Donald Trump’s tariff shock and tech earnings drag on sentiment. There has been some positive news in recent days, including some moves by China to match exemptions by the United States, as ANZ China Economist Vicky Xiao Zhou explains.
Vicky says the chances of a full deal between the United States and China any time soon appear remote for now.
Vicky says China’s Government has been planning to help its exporters through a tough period.
ANZ Research has changed its view on the Bank of Japan’s next move because of the tariff uncertainty. ANZ Senior International Economist Tom Kenny says the BoJ was expected to hike this week, but he now sees it waiting.
Tom sees the Bank of Japan waiting until October, before hiking 25 basis points.
Cheers,
Bernard
PS: Catch you tomorrow with a look ahead to Australia’s first quarter inflation data.
