US stocks, bond yields and the US dollar are down sharply after Donald Trump unveiled much higher than expected tariffs. Investors fear a US recession and higher inflation. Australia though may fare better, with gold exempted, and beef prices high.

In our bonus deep dive interview, I spoke with ANZ Senior International Economist Tom Kenny late last night about what would be an unprecedented rise in US tariffs to higher than levels seen after the Smoot Hawley Act of 1930.

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US markets rose overnight, but are in a holding pattern ahead of Donald Trump’s big tariff announcements due at 7am Sydney/Melbourne time. Australia’s housing market picks up, while New Zealand building approvals stay sluggish, and inflation unexpectedly rises in South Korea in the middle of a rate cut cycle.

In our bonus deep dive interview, ANZ FX Analyst Felix Ryan outlines ANZ Research’s work developing a new method to detect Foreign Exchange trading signals.

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US markets are defensive ahead of ‘Liberation Day’ tariff news, just as weak US manufacturing and jobs data raises slowdown fears. The Reserve Bank of Australia holds rates, but hawkishly. Australian consumer confidence rises and retail sales keep recovering.

In our bonus deep dive interview, ANZ Head of Asia Research Khoon Goh explains why Asian economies may be particularly nervous about the upcoming US tariff announcements, and how they might react.

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US stocks and more risk-sensitive currencies weakened ahead of President Trump’s ‘Liberation Day’ of tariff announcements. Gold jumps to US$3,160/oz. China’s factories brace for tariffs too. Australia’s bank lending growth is steady.

In our bonus deep dive interview, Greater China Economist Vicky Xiao Zhou analyses the prospects for a second Plaza Accord-style deal on semiconductors between Taiwan and the United States, similar to a US-Japan deal in 1986.

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US investors start the week nervously ahead of tariff news they’ve yet to fully price in. Gold hits a new high. Japanese inflation is rising, which is seen leading to another Bank of Japan rate hike. And New Zealand consumer confidence fell in March.

In our bonus deep dive interview, ANZ’s Head of G3 Economics Brian Martin looks at who might be the winners and losers in the tariffs Donald Trump is set to confirm, or at least announce, on Wednesday night.

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US stocks trade cautiously after Donald Trump sets a 25% tariff on car and car part imports. Gold hits a record high US$3,100/oz. Australia’s Federal Government borrowing task has jumped, and the People’s Bank of China turns dovish.

In our bonus deep dive interview, ANZ Head of Asia Research Khoon Goh analyses why heavy equity outflows from Asian economies are likely to keep flowing after a swathe of US tariff announcements due on April 2.

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US stocks slide on fears Trump will announce car tariffs tonight. UK inflation falls unexpectedly. Australia’s inflation rate slips as Budget rebates are set to keep repressing headline CPI. And Indonesia’s currency is the lowest it’s been since the Asian Financial Crisis of 1997.

In our bonus deep dive interview, ANZ Commodity Strategist Soni Kumari tracks the fortunes of silver following record-setting price moves for gold.

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US consumer confidence slumps into recession territory, Australia’s Budget reveals a surprise tax cut, while future spending plans sit near expectations. Oil prices fall as Ukraine agrees a partial ceasefire.

In our bonus deep dive interview, ANZ Senior International Economist Tom Kenny analyses how the Federal Open Markets Committee’s projections for the US GDP have changed, and how rising uncertainty is hitting the world’s largest economy.

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US stocks rally on hopes Donald Trump will soften the blow of tariffs due next week. Flash PMIs for the US economy reassure. ANZ Research raises gold forecast to US$3,200 an ounce. And all eyes tonight are on Australia’s Federal Budget.

In our bonus deep dive interview, ANZ Senior Commodity Strategist Daniel Hynes reveals two vastly different approaches to slumps in cobalt and lithium prices.

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ANZ Research has lowered its US growth forecast, while also nudging its China GDP forecast higher. Donald Trump’s big tariff day on April 2 will be a key moment for global markets, and Japan’s inflation is rising nicely for more Bank of Japan rate hikes.

In our bonus deep dive interview, ANZ Head of Australian Economics Adam Boyton previews tomorrow night’s Federal Budget.

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The Bank of England holds. New Trump sanctions on Iran pump up oil prices by 1.7%. Australia’s big jobs fall in February is not expected to force more RBA cuts, while New Zealand’s stronger Q4 growth shouldn’t stop RBNZ from cutting more.

In our bonus deep dive interview, ANZ Economist Henry Russell digs into what led to New Zealand’s faster-than-expected growth at the end of 2024.

Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/