Keep pulling the thread on Sarah Hunter.
Crude oil prices rose sharply after the United States and Iran rejected proposals aimed at opening the Strait of Hormuz.
U.S. President Trump announced that a scheduled attack on Iran would not be conducted because serious negotiations are now taking place.
Mark Cranfield warns that if the U.S. Treasury continues its current spending path disconnected from the central bank, it could lead to higher long-term yields and negatively impact the U.S. dollar.
Policymakers at the Reserve Bank of Australia are increasingly concerned that inflation expectations could become unanchored, primarily due to the oil price shock from the war in Iran.
The Reserve Bank of Australia's baseline forecast, and its two published alternative scenarios, do not project a technical recession for the Australian economy.
The Reserve Bank of Australia's baseline forecast projects that inflation will return to 2.5% by the end of its forecast period.
WTI crude oil futures increased by more than 3% during the regular New York trading session.
Following President Trump's remarks about negotiations with Iran, WTI crude oil prices fell by approximately 1.3% in the electronic trading session.
Mark Cranfield believes the high volatility in the oil market is partly due to the participation of "macro tourists," who are not regular commodity traders.
Japan's headline GDP for the first quarter was approximately 1.7%, while its GDP deflator was 3.4%.
The Reserve Bank of Australia has been preemptively hiking interest rates to combat inflation, putting it ahead of other central banks.
Mark Cranfield believes there is a risk of a mini-repeat of 2022, where inflation outpaced central banks and forced them to play catch-up.