Geopolitical tensions and sticky inflation reshape market outlook. New Zealand's Q1 CPI surprised upside at 3.1% annually, driven by resilient non-tradeable inflation pressuring the Reserve Bank to maintain hawkish rates longer than expected. Meanwhile, Iran rejected U.S. demands for uranium enrichment elimination, escalating geopolitical risks. On the corporate front, Rio Tinto maintained 2026 iron ore guidance amid volatility, while Tesla and PG&E launched a landmark vehicle-to-grid program enabling Cybertruck owners to support electrical grids. Trade tensions also intensified as U.S. and Mexican officials began critical discussions ahead of North American trade pact reviews. These developments signal investors should monitor inflation persistence, geopolitical flashpoints, and trade policy shifts closely.
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