Limit Up! 9th July 2025

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Overnight

Economic Indicators Released Overnight

RBA holds against expectations of a 25bps cut. Board was split with 6:3 vote to hold, citing increased uncertainty regarding tariffs. No-one's arguing about the uncertainty but shouldn't they be encouraging banks to lend and businesses to invest? RBA seems, like the FED, to be painting themselves into a corner.

German imports and exports both lower is a sure sign of shrinking GDP.

In the US lower inflation expectation and consumer credit shows that Powell is wrong and Trump is right. How to get over the impasse?

All eyes on the 10 year note auction and FED minutes tonight.

US Equities

Breaking

Bitcoin

BTC in neutral before as big move one way or the other.

BITCOIN/USD Daily

Commodities

Oil now beginning to show a dangerous uptrend despite increased OPEC output and a ceasefire in the Middle East. 

SPOT BRENT Daily

Foreign Exchange

Aussie Dollar still stuck in the bull flag but that's 14 year resistance overhead at 0.6600.

AUD/USD Daily

Bonds

Yields still rising globally driven by 25bps higher in UST10.

US 10 Year Government Bond Yield Daily

Interesting

The markets just don’t believe Trump on tariffs [FT]

BlackRock tells investors it’s ’time to be more tactical’ [investing.com] 

Economic Indicators Today