A US Federal Court has blocked President Trump’s global tariffs from going into effect, a decision impacting international trade relations and market sentiment. The court’s ruling arrives as investors also digest the latest minutes from the Federal Reserve meeting and await further economic data. Concurrently, Nvidia’s recent earnings report, exceeding sales expectations for the March quarter, has provided a positive boost to the market, with shares rising approximately 4% in extended trading.
In other market activity, the US dollar strengthened for the second consecutive day, fueled by optimism surrounding potential improvements in the US economic outlook through trade deals. Conversely, the Australian dollar experienced a decline, falling to US64.2c. Oil prices saw a gain of over 1% on Wednesday due to supply concerns, as OPEC+ maintained its current output policy. Brent crude futures settled higher at $64.90 a barrel, while copper experienced a decrease of 1.4%. Iron ore saw a slight increase to $97, and gold dipped slightly to $3289 an ounce. Locally, investors are awaiting the release of private capital expenditure figures for the March quarter.
