5 in 5 with ANZ

Oil prices fall and stocks gain on news Iran is seeking de-escalation, despite strikes continuing. The Bank of Japan is set to hold rates today amid a hiking cycle. Extra May holidays boost Chinese retail sales and suppress production. In our deep dive interview, ANZ Senior Commodities Strategist Daniel Hynes analyses the Israel-Iran conflict and the ability of OPEC to respond to any disruption with increased supply. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/ [https://www.anz.com/institutional/five-in-five-podcast/]

Oil starts the week with more upward pressure, after jumping over 7% on Friday as Israel renewed attacks on Iran, and retaliation over the weekend. The developments will overshadow key central bank meetings this week, set to hold clues for further rate moves. In our deep dive interview, ANZ Head of Asia Research Khoon Goh says while front-loading of Asian exports has supported trade numbers, the surge in activity is set to ease. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/ [https://www.anz.com/institutional/five-in-five-podcast/]

Soft US inflation data sees markets price in two Federal Reserve rate cuts later this year. Gold rises and the US dollar falls as markets turn from trade talks. Subdued retail demand continues in New Zealand. India’s inflation is weaker than expected in May. In our deep dive interview, ANZ Senior Economist Matthew Galt discusses what’s been driving New Zealand’s economy out of last year’s recession ahead of Q1 GDP data next week. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/ [https://www.anz.com/institutional/five-in-five-podcast/]

President Trump says US-China trade talks result in agreements covering rare earths and magnets, and Chinese students. US inflation surprises to the downside in May, supporting rate cut expectations for later this year. Australian consumers look to spend. In our deep dive interview, ANZ Economist Arindam Chakraborty explains ANZ Research’s call that the Philippines should pursue a fairer, or even under-valued exchange rate. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/ [https://www.anz.com/institutional/five-in-five-podcast/]

US and China trade talks continue this morning, with ‘more to do’. US inflation data for May will show if tariffs are pushing up prices. Australian business conditions are their lowest since 2020. Traffic movements in New Zealand show diverging economic activity. In the second part of a deep dive interview into OPEC’s production cut phase-out, ANZ Senior Commodities Strategist Daniel Hynes explains why he will be keeping a close eye on what the oil bloc decides on production in September. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/ [https://www.anz.com/institutional/five-in-five-podcast/]