Live updates: Wall Street rises as rate cuts forecast for both Australia and US
Market Snapshot
- ASX 200 futures: 1%
- Australian dollar: -0.3% to 64.07 US cents
- Wall Street: Dow +0.7% S&P +0.4% Nasdaq -0.2%
- Europe: FTSE +0.5% DAX +0.7% Stoxx 600 +0.5%
- Spot gold: +1.7% to $US3,243/ounce
- Brent crude: -2.33% to $US64.55/barrel
- Iron ore: -0.3% to $US101.50/tonne
- Bitcoin: -0.3% to $US103,158
Prices current around 7:15am AEST
Live updates from major ASX indices:
4m agoThu 15 May 2025 at 9:50pm
CBA sticking with 25bp cut by RBA next Tuesday
The Aussie dollar is trading just above 64 US cents after a little drop overnight. It’s lower against other currencies, too.
This note out from CBA:
Market pricing for the Reserve Bank of Australia (RBA) cash rate in 2025 has barely budged this week despite stronger wages and labour force data. Our Aussies economics team stick to their call for a 25bp cash rate cut when the RBA meet next week. We expect AUD/USD to consolidate near its current level over the rest of week unless there is any significant tariff related news.
27m agoThu 15 May 2025 at 9:26pm
Wall Street up again as US interest rate cut predicted
Good morning!
Wall Street has ended higher again for the fourth session in a row, as investors continue to celebrate the 90 day tariff war between the US and China, and fresh economic data points to the need for the US Fed to cut rates again soon.
The data in question showed deceleration in the world’s largest economy in April, including drops in producer prices, manufacturing output, and a slowdown in retail sales.
U.S. Treasury yields fell sharply after that data was released, suggesting investors think it will push the nation’s central bank to cut interest rates (at least) twice this year.
Right now, ASX futures are pointing to Australian shares following the Wall Street rally. We’ll keep you updated!