By Emilia Terzon
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Good morning! Emilia here with you for the final business blog of the week, after what has been a busy one.
US markets are down, dragged lower by the tech stock Oracle. The 48-year-old company has been surging in the last few months thanks to AI hype but now it’s down 5.5% in one session alone.
It comes after some people have been raising concerns about an AI stock bubble.
Meanwhile, the Aussie dollar has slid back down towards 65.55 US cents thanks to a stronger greenback.
CBA reckons it risks falling further if tonight’s US inflation data has a little suprise about price hikes. It might just do, thanks to the impact of Trump’s tariffs.
“We doubt AUD/USD will test the next support at 0.6428 (50% fibbo) just yet,” CBA adds.
“The next local driver of AUD/USD is Tuesday’s Reserve Bank of Australia policy meeting where our Australian economics team expect the cash rate to remain steady at 3.6% in a straightforward decision.”
