Asia Market Movers: CBA sees RBA on hold for rest of 2026 after third consecutive hike to 4.35%

Wednesday, 06 May, 2026 Central Banks CBA sees RBA on hold for rest of 2026 after third consecutive hike to 4.35% Commonwealth Bank expects the RBA to hold rates at 4.35% for the rest of 2026 before cutting in 2027, though an August hike remains possible if Q2 trimmed mean CPI surprises to the upside. Earlier: We News EU urges US to restore Turnberry trade terms ahead of deal's first anniversary The EU has urged the US to swiftly restore the 15% Turnberry tariff terms agreed last year, ahead of the deal's one-year anniversary in July, following talks between Sefcovic and Greer in Paris. Info Learn more Central Banks PBOC is expected to set the USD/CNY reference rate at 6.8160 – Reuters estimate China is back from an extended holiday today. The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most Central Banks AUD faces headwinds above 0.72 as RBA signals pause, TD warns TD Securities has shifted its RBA call to a final 25bps hike in August to 4.60%, citing dovish May messaging and Middle East income shock risks, while warning AUD faces near-term headwinds above 0.72. News New Zealand unemployment falls to 5.3% in Q1, beating forecasts ahead of war impact New Zealand's unemployment rate fell to 5.3% in Q1 , beating the 5.4% forecast, but economists warn the labour market impact of the Middle East conflict is still six to twelve months away. Summary: Ne Commodities Oil down, 'risk' & gold higher as Trump pauses freedom operation for ships stuck in Hormuz I posted earlier on Trump trying to hold together the ceasefire: Trump seeks to preserve Iran ceasefire as UAE says missile and drone attacks continue More positively now. Trump posting on "great succ Commodities Trump says that Project Freedom (movement of ships through Hormuz) will be paused Trump: Iran, U.S. have mutually agreed that, while blockade will remain in full force and effect, Project Freedom (movement of ships through Strait of Hormuz) will be paused for a short period of time News New Zealand Q1 Unemployment rate 5.3% (vs. 5.4% expected and 5.4% prior ) New Zealand jobs report I'll have more to come on this separately. ADDED, here: New Zealand unemployment falls to 5.3% in Q1, beating forecasts ahead of war impact Learn more Commodities Trump seeks to preserve Iran ceasefire as UAE says missile and drone attacks continue US Secretary of State Rubio declared Operation Epic Fury concluded and the Strait of Hormuz ceasefire intact, even as the UAE reported a second day of Iranian missile and drone strikes. Summary: US Se

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