logo
Australians curb their enthusiasm for US holidays

Australians curb their enthusiasm for US holidays

Flight Centre chief executive Graham Turner said business travel to the US was holding up, but fewer Australians were booking holidays there.
'Certainly compared to the pre-Trump era, everything that we see … is the leisure market in particular is down. There's no doubt that April and May have been down,' Turner said.
'US carriers have increased their capacity [to Australia] over the last six to 12 months, and there's no doubt they'll be suffering a bit.
'There's been cheaper airfares through sales and there will be [more] over the next few months unless things dramatically improve.'
More than a million Australians visited the US last year. The country's latest official figures show 291,230 Australians visited the US from January to April, down 0.2 per cent on the same period last year. In April, Australian visitor numbers to the US grew 1 per cent year-on-year to 89,363.
Meanwhile, 83,460 Americans arrived in Australia this March, making the US the second-largest source of visitors behind New Zealand. Australia's favourite destinations over the same period were New Zealand, Indonesia and Japan.
Mitchell said young people most affected by the cost of living were choosing cheaper destinations such as Latin America or Asia, instead.
He said the April slump in the Australian dollar sparked by Trump's tariff wars had 'spooked a lot of people' from booking trips to the US.
'The feedback we're getting is the US is an expensive destination to go to, with the service taxes and the tipping. And I think that word of mouth has honestly been getting around for a while now,' Mitchell said.
He said even those who could afford to visit the US were cutting back on costs. 'I don't think it's stopping some people from going there, but it probably does change how they travel a bit. They might not go for 2½, three weeks; they might go for two weeks. They might not go five-star, they might go four-star or three-star,' he said.
Qantas, which operates about 40 return flights a week between Australia and the US, said demand for US travel was holding up locally.
Chief executive Vanessa Hudson recently said the airline was feeling optimistic about demand for the US, and 'business-purpose travel and business travel in premium cabins remains strong'.
The airline said this year's sale for flights to the US had outperformed similar sales last year.
Loading
Michael Feller, an ex-diplomat and foreign policy adviser, said the second Trump presidency had caused enormous damage to US soft power and prestige. But he said it was difficult to trace that into consumer behaviour beyond unique cases like Canada.
'Boycotts are really tricky,' said Feller, who is now chief strategist at Geopolitical Strategy, which provides advice to companies around the world.
'US products are ubiquitous. And when you consume a quintessential US product like Coke, it's manufactured and bottled in Australia. And then there are other quintessential products like iPhones, which are manufactured and assembled in China. So, it's hard to disentangle 'Brand US'.'
Despite gloom over Trump's trade wars, Feller said there were two silver linings for Australia.
Loading
'The Australian consumer will probably benefit from Trump's trade wars insofar as cheap Chinese goods will be dumped on our shores, leading to lower costs,' he said.
'And if Trump cracks down on international students, those students will presumably look to a country like ours to study.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Australia news as it happened: Albanese addresses shooting of Nine journalist; Monash IVF caught in second embryo transfer bungle;
Australia news as it happened: Albanese addresses shooting of Nine journalist; Monash IVF caught in second embryo transfer bungle;

Sydney Morning Herald

timean hour ago

  • Sydney Morning Herald

Australia news as it happened: Albanese addresses shooting of Nine journalist; Monash IVF caught in second embryo transfer bungle;

Latest posts Pinned post from 4.59pm What we covered today By Carla Jaeger Thanks for reading the national news blog. That's all for today – we'll be back tomorrow for more live coverage. Here's a look back at the day's major stories: NSW Deputy Premier Prue Car will take personal leave after announcing she has been diagnosed with breast cancer. A fresh wave of Russian drone and missile attacks has killed one person and wounded at least eight others in two major Ukrainian cities. The attacks came hours after Moscow launched almost 500 drones at Ukraine in the biggest overnight drone bombardment in the three-year war. Passengers aboard the Gaza-bound aid ship, including activist Greta Thunberg, are set to be deported to their home countries after being detained by Israeli officials. Monash IVF is facing regulatory investigations after announcing it transferred the wrong embryo into a Melbourne woman, the second incident admitted by the fertility giant in two months. The Los Angeles Police Department launched an investigation after Nine News US Correspondent Lauren Tomasi was shot by a rubber bullet while covering protests in Los Angeles yesterday. And Prime Minister Anthony Albanese announced that an economic roundtable meeting, tasked with helping form a new economic growth and productivity agenda, will be held in August. Latest posts 4.13pm Average Australian home value passes record $1 million By Millie Muroi and Shane Wright The value of an average Australian home has soared through the $1 million mark for the first time despite a slowdown in growth as the Albanese government fights to contain the housing affordability crisis. Fresh figures released by the Australian Bureau of Statistics on Tuesday showed the average home was worth $1,002,500 in the March quarter, up $6900 from the last three months of 2024. 3.56pm Fresh wave of Russian attacks kills one person and wounds others Turning back to Ukraine, where a fresh wave of Russian drone and missile attacks has killed one person and wounded at least eight others in two major Ukrainian cities in the early hours of Tuesday, Ukraine officials said. One person was killed and four injured in the southern port city of Odesa, said regional governor Oleh Kiper. A maternity hospital and residential buildings in the centre of the city were also damaged in the attack. Four people were injured in Ukraine's capital, Kyiv Mayor Vitali Klitschko said. Associated Press journalists heard explosions, including the buzzing of drones, in different parts of the city for hours early on Tuesday. The fresh wave of Russian attacks came hours after Moscow launched almost 500 drones at Ukraine in the biggest overnight drone bombardment in the three-year war. Ukrainian and Western officials had been anticipating a Russian response to Ukraine's audacious June 1 drone attack on distant Russian air bases. Plumes of smoke were visible in Kyiv as air defence forces worked to shoot down drones and missiles on Tuesday morning. Meanwhile, Ukrainian residents took shelter and slept in metro stations during the hours-long attack. Nina Nosivets, 32, and her eight-month-old son, Levko, were among them. 'I just try not to think about all this, silently curled up like a mouse, wait until it all passes, the attacks. Distract the child somehow because it's probably the hardest thing for him to bear,' she said. Krystyna Semak, a 37-year-old Kyiv resident, said the explosions frightened her and she ran to the metro at 2am with a rug. Russia has been launching a record-breaking number of drones and missiles targeting Ukraine while the two countries continue to swap prisoners of war, the only tangible outcome of recent direct peace talks held in Istanbul. A ceasefire, long sought by Kyiv, remains elusive. In Kyiv, fires broke out in at least four districts after debris from shot-down drones fell on the roofs of residential buildings and warehouses, according to the Kyiv City Military Administration. Vasyl Pesenko, 25, stood in his kitchen, which was damaged in the attack. 'I was lying in bed, as always hoping that these Shaheds [a type of drone] would fly past me, and I heard that Shahed (that hit the house),' he said. 'I thought that it would fly away, but it flew closer and closer and everything blew away.' 3.39pm Health regulator launches investigation into Monash IVF embryo bungle By Carla Jaeger Earlier today we told you that Monash IVF mistakenly transferred the wrong embryo into a Melbourne woman, the second incident admitted by the fertility giant in two months. The Victorian Health Regulator will now launch an investigation into the bungle, which occurred on June 5, after being notified on Tuesday. Health Minister Mary-Anne Thomas described the event as unacceptable. 'Families should have confidence that the treatment they are receiving is done to the highest standard,' Thomas said. Thomas said Monash IVF would be required to fully co-operate with the regulator's investigation and provide clear answers on how this happened. 3.12pm NSW premier defends bungled psychiatry pay figures By Kate Aubusson There appears to be some creative accounting at Macquarie Street when it comes to the cost of NSW's public psychiatrists' 25 per cent pay rise. Loading Premier Chris Minns added to the confusion when he told a press conference this morning: 'If you look at the spending over the next seven to 10 years, just for the psychiatrists that have asked for that kind of increase, you are looking at over half a billion dollars, close to $700 million in spending.' Minns' statement is at odds with Mental Health Minister Rose Jackson's comments last week. Jackson told the media that agreeing to a 25 per cent pay rise in one year would cost $700 million, before clarifying in parliament that this was the total cost of paying all public hospital psychiatrists at the higher rate over forward estimates, which is typically four years. Internal government documents revealed by the Sydney Morning Herald this morning show that NSW Health's own modelling found the cost of giving staff specialists a 25 per cent pay rise to fill all 416 positions in NSW would be an additional $24.9 million per year. That would amount to roughly $500 million over four years. Minns said if the government agreed to the increase for psychiatrists, other specialists would demand the same pay rise: 'You are looking at billions of dollars from the New South Wales taxpayer.' 2.58pm Greta Thunberg and fellow activists en route to home countries: Israeli government By Carla Jaeger The twelve passengers who boarded an aid ship bound for the Gaza Strip, including activist Greta Thunberg, are en route to their home countries after being deported, the Israeli Foreign Ministry said on Tuesday. The activists' boat, which was carrying a symbolic amount of aid, arrived at the Israeli port of Ashdod on Tuesday accompanied by Israel's navy, after Israeli forces boarded it on Monday as it approached Gaza. Loading The ministry said in a social media post it had taken the passengers to an airport in Tel Aviv. If any refuse to leave Israel, they could face legal authorities to be forcibly deported. The activists set out from Sicily a week ago to protest Israel's ongoing military campaign in the Gaza Strip and its tight restrictions on the entry of humanitarian aid, which have put 2.3 million Palestinians at risk of famine. The Freedom Flotilla Coalition, which organised the voyage, said the activists were 'kidnapped by Israeli forces' about 200 kilometres off Gaza while trying to deliver desperately needed food, baby formula and medical supplies. With AP, Reuters 2.26pm Media union weighs in on Lauren Tomasi shooting By Amber Schultz The union representing Australian journalists has condemned the 'deliberate' targeting of Nine US Correspondent Lauren Tomasi, who was shot with a rubber bullet while reporting on immigration protests in Los Angeles. Loading In a statement on social media, the Media, Entertainment and Arts Alliance said the 'shocking' footage was 'evidence of the lengths media workers go to report the truth'. 'Tomasi appears to be deliberately shot while she is speaking to the camera. Journalists reporting from the frontline of protests and wars fulfil the essential role of bearing witness, and should be accorded the same protections as other frontline workers,' the statement read. 'We are grateful to learn both Lauren and her camera person are safe, but this situation highlights the need to centre worker safety. No one deserves to be shot or injured during the course of their work.' 2.13pm Ban on machete sales working despite eBay ads, says Consumer Affairs Victoria By Madeleine Heffernan Consumer Affairs Victoria says its crackdown on the sale of machetes is working, despite advertisements for the weapons appearing on online marketplace eBay. Consumer Affairs told MPs on Wednesday its 14-strong machete taskforce had conducted 359 inspections, including more than 280 in-store inspections, since the Allan government announced an interim ban on the sale of machetes due to a spate of attacks. But Liberal MP Richard Welch questioned why advertisements for the weapon were still appearing on eBay. Consumer Affairs director Nicole Rich said the online retailer had provided assurances that the weapon could not be bought in the state. Loading 'One of the things that eBay has assured us that they've put in place is geoblocking technology, so even where a machete might appear for sale, whether a purchase can be completed, and also whether a machete will actually be delivered or will be cancelled when you try and make a purchase is a separate question,' Rich told the public accounts and estimates committee. 'And we're reasonably confident at the moment that that technology is working, and it would remain very difficult to purchase a machete on eBay.' The machete ban came into effect on May 28. Maximum penalties for breaching an interim product safety ban are $2.5 million for individuals and $50 million for companies. The government will move to permanently ban the possession, use and sale of machetes in Victoria later this year. 1.56pm Another election on the cards for Tassie By Alexander Darling Tasmanians – and the AFL – are watching and waiting to see if Liberal premier Jeremy Rockliff will call a snap election today. Last week, Rockliff narrowly lost a no-confidence motion moved against him in parliament by the state opposition. Loading Following this, Rockliff broke with parliamentary convention and chose not to step down. He is expected to visit the state's governor today to make the election request, following a sitting of state parliament to pass an emergency budget bill to ensure public servants get paid. Labor said it moved the no-confidence motion in response to what it called issues of financial management, government plans to privatise public assets and cost blowouts on projects such as new Spirit of Tasmania ferries. If an election is called, it will be the second for Tasmania in as many years and the fourth election in seven years, when elections are meant to be held every four years. On Tuesday morning, Police Minister Felix Ellis claimed he had texts 'sent by a member of [opposition leader Dean Winter's] inner sanctum' proving Winter's no-confidence motion was a power grab rather than moved in the interests of Tasmanians. Winter has tipped the purse strings would be tightened during an election campaign. 'This will not be a spendathon from Labor. Our state can't afford it,' he said. Over the weekend, Rockliff ruled out privatisations as a way of balancing the budget, in an attempt to defuse opposition attacks. The turmoil in the state's politics is likely to have repercussions for the Tasmania Devils, the planned 19th team in the AFL. The AFL Commission is meeting today and the political situation is likely to be on the agenda. 1.45pm What we know so far By Carla Jaeger Thanks for tuning into our live coverage of the latest national and international news, headed by Amber Schultz. I'm Carla Jaeger, and I'll be anchoring the blog for the rest of the afternoon. If you're just joining us, here's what you may have missed: A formal investigation is under way into the shooting with a rubber bullet of Nine News correspondent Lauren Tomasi, who was covering the ICE protests in Los Angeles. An IVF clinic in Melbourne has transferred the wrong embryo into a Melbourne woman, the second incident admitted by the fertility giant in as many months. Federal Treasury secretary Steven Kennedy has been appointed the new chief of Prime Minister Anthony Albanese's department. The announcement was made during Albanese's National Press Club address.

Australia news as it happened: Albanese addresses shooting of Nine journalist; Monash IVF caught in second embryo transfer bungle;
Australia news as it happened: Albanese addresses shooting of Nine journalist; Monash IVF caught in second embryo transfer bungle;

The Age

timean hour ago

  • The Age

Australia news as it happened: Albanese addresses shooting of Nine journalist; Monash IVF caught in second embryo transfer bungle;

Latest posts Pinned post from 4.59pm What we covered today By Carla Jaeger Thanks for reading the national news blog. That's all for today – we'll be back tomorrow for more live coverage. Here's a look back at the day's major stories: NSW Deputy Premier Prue Car will take personal leave after announcing she has been diagnosed with breast cancer. A fresh wave of Russian drone and missile attacks has killed one person and wounded at least eight others in two major Ukrainian cities. The attacks came hours after Moscow launched almost 500 drones at Ukraine in the biggest overnight drone bombardment in the three-year war. Passengers aboard the Gaza-bound aid ship, including activist Greta Thunberg, are set to be deported to their home countries after being detained by Israeli officials. Monash IVF is facing regulatory investigations after announcing it transferred the wrong embryo into a Melbourne woman, the second incident admitted by the fertility giant in two months. The Los Angeles Police Department launched an investigation after Nine News US Correspondent Lauren Tomasi was shot by a rubber bullet while covering protests in Los Angeles yesterday. And Prime Minister Anthony Albanese announced that an economic roundtable meeting, tasked with helping form a new economic growth and productivity agenda, will be held in August. Latest posts 4.13pm Average Australian home value passes record $1 million By Millie Muroi and Shane Wright The value of an average Australian home has soared through the $1 million mark for the first time despite a slowdown in growth as the Albanese government fights to contain the housing affordability crisis. Fresh figures released by the Australian Bureau of Statistics on Tuesday showed the average home was worth $1,002,500 in the March quarter, up $6900 from the last three months of 2024. 3.56pm Fresh wave of Russian attacks kills one person and wounds others Turning back to Ukraine, where a fresh wave of Russian drone and missile attacks has killed one person and wounded at least eight others in two major Ukrainian cities in the early hours of Tuesday, Ukraine officials said. One person was killed and four injured in the southern port city of Odesa, said regional governor Oleh Kiper. A maternity hospital and residential buildings in the centre of the city were also damaged in the attack. Four people were injured in Ukraine's capital, Kyiv Mayor Vitali Klitschko said. Associated Press journalists heard explosions, including the buzzing of drones, in different parts of the city for hours early on Tuesday. The fresh wave of Russian attacks came hours after Moscow launched almost 500 drones at Ukraine in the biggest overnight drone bombardment in the three-year war. Ukrainian and Western officials had been anticipating a Russian response to Ukraine's audacious June 1 drone attack on distant Russian air bases. Plumes of smoke were visible in Kyiv as air defence forces worked to shoot down drones and missiles on Tuesday morning. Meanwhile, Ukrainian residents took shelter and slept in metro stations during the hours-long attack. Nina Nosivets, 32, and her eight-month-old son, Levko, were among them. 'I just try not to think about all this, silently curled up like a mouse, wait until it all passes, the attacks. Distract the child somehow because it's probably the hardest thing for him to bear,' she said. Krystyna Semak, a 37-year-old Kyiv resident, said the explosions frightened her and she ran to the metro at 2am with a rug. Russia has been launching a record-breaking number of drones and missiles targeting Ukraine while the two countries continue to swap prisoners of war, the only tangible outcome of recent direct peace talks held in Istanbul. A ceasefire, long sought by Kyiv, remains elusive. In Kyiv, fires broke out in at least four districts after debris from shot-down drones fell on the roofs of residential buildings and warehouses, according to the Kyiv City Military Administration. Vasyl Pesenko, 25, stood in his kitchen, which was damaged in the attack. 'I was lying in bed, as always hoping that these Shaheds [a type of drone] would fly past me, and I heard that Shahed (that hit the house),' he said. 'I thought that it would fly away, but it flew closer and closer and everything blew away.' 3.39pm Health regulator launches investigation into Monash IVF embryo bungle By Carla Jaeger Earlier today we told you that Monash IVF mistakenly transferred the wrong embryo into a Melbourne woman, the second incident admitted by the fertility giant in two months. The Victorian Health Regulator will now launch an investigation into the bungle, which occurred on June 5, after being notified on Tuesday. Health Minister Mary-Anne Thomas described the event as unacceptable. 'Families should have confidence that the treatment they are receiving is done to the highest standard,' Thomas said. Thomas said Monash IVF would be required to fully co-operate with the regulator's investigation and provide clear answers on how this happened. 3.12pm NSW premier defends bungled psychiatry pay figures By Kate Aubusson There appears to be some creative accounting at Macquarie Street when it comes to the cost of NSW's public psychiatrists' 25 per cent pay rise. Loading Premier Chris Minns added to the confusion when he told a press conference this morning: 'If you look at the spending over the next seven to 10 years, just for the psychiatrists that have asked for that kind of increase, you are looking at over half a billion dollars, close to $700 million in spending.' Minns' statement is at odds with Mental Health Minister Rose Jackson's comments last week. Jackson told the media that agreeing to a 25 per cent pay rise in one year would cost $700 million, before clarifying in parliament that this was the total cost of paying all public hospital psychiatrists at the higher rate over forward estimates, which is typically four years. Internal government documents revealed by the Sydney Morning Herald this morning show that NSW Health's own modelling found the cost of giving staff specialists a 25 per cent pay rise to fill all 416 positions in NSW would be an additional $24.9 million per year. That would amount to roughly $500 million over four years. Minns said if the government agreed to the increase for psychiatrists, other specialists would demand the same pay rise: 'You are looking at billions of dollars from the New South Wales taxpayer.' 2.58pm Greta Thunberg and fellow activists en route to home countries: Israeli government By Carla Jaeger The twelve passengers who boarded an aid ship bound for the Gaza Strip, including activist Greta Thunberg, are en route to their home countries after being deported, the Israeli Foreign Ministry said on Tuesday. The activists' boat, which was carrying a symbolic amount of aid, arrived at the Israeli port of Ashdod on Tuesday accompanied by Israel's navy, after Israeli forces boarded it on Monday as it approached Gaza. Loading The ministry said in a social media post it had taken the passengers to an airport in Tel Aviv. If any refuse to leave Israel, they could face legal authorities to be forcibly deported. The activists set out from Sicily a week ago to protest Israel's ongoing military campaign in the Gaza Strip and its tight restrictions on the entry of humanitarian aid, which have put 2.3 million Palestinians at risk of famine. The Freedom Flotilla Coalition, which organised the voyage, said the activists were 'kidnapped by Israeli forces' about 200 kilometres off Gaza while trying to deliver desperately needed food, baby formula and medical supplies. With AP, Reuters 2.26pm Media union weighs in on Lauren Tomasi shooting By Amber Schultz The union representing Australian journalists has condemned the 'deliberate' targeting of Nine US Correspondent Lauren Tomasi, who was shot with a rubber bullet while reporting on immigration protests in Los Angeles. Loading In a statement on social media, the Media, Entertainment and Arts Alliance said the 'shocking' footage was 'evidence of the lengths media workers go to report the truth'. 'Tomasi appears to be deliberately shot while she is speaking to the camera. Journalists reporting from the frontline of protests and wars fulfil the essential role of bearing witness, and should be accorded the same protections as other frontline workers,' the statement read. 'We are grateful to learn both Lauren and her camera person are safe, but this situation highlights the need to centre worker safety. No one deserves to be shot or injured during the course of their work.' 2.13pm Ban on machete sales working despite eBay ads, says Consumer Affairs Victoria By Madeleine Heffernan Consumer Affairs Victoria says its crackdown on the sale of machetes is working, despite advertisements for the weapons appearing on online marketplace eBay. Consumer Affairs told MPs on Wednesday its 14-strong machete taskforce had conducted 359 inspections, including more than 280 in-store inspections, since the Allan government announced an interim ban on the sale of machetes due to a spate of attacks. But Liberal MP Richard Welch questioned why advertisements for the weapon were still appearing on eBay. Consumer Affairs director Nicole Rich said the online retailer had provided assurances that the weapon could not be bought in the state. Loading 'One of the things that eBay has assured us that they've put in place is geoblocking technology, so even where a machete might appear for sale, whether a purchase can be completed, and also whether a machete will actually be delivered or will be cancelled when you try and make a purchase is a separate question,' Rich told the public accounts and estimates committee. 'And we're reasonably confident at the moment that that technology is working, and it would remain very difficult to purchase a machete on eBay.' The machete ban came into effect on May 28. Maximum penalties for breaching an interim product safety ban are $2.5 million for individuals and $50 million for companies. The government will move to permanently ban the possession, use and sale of machetes in Victoria later this year. 1.56pm Another election on the cards for Tassie By Alexander Darling Tasmanians – and the AFL – are watching and waiting to see if Liberal premier Jeremy Rockliff will call a snap election today. Last week, Rockliff narrowly lost a no-confidence motion moved against him in parliament by the state opposition. Loading Following this, Rockliff broke with parliamentary convention and chose not to step down. He is expected to visit the state's governor today to make the election request, following a sitting of state parliament to pass an emergency budget bill to ensure public servants get paid. Labor said it moved the no-confidence motion in response to what it called issues of financial management, government plans to privatise public assets and cost blowouts on projects such as new Spirit of Tasmania ferries. If an election is called, it will be the second for Tasmania in as many years and the fourth election in seven years, when elections are meant to be held every four years. On Tuesday morning, Police Minister Felix Ellis claimed he had texts 'sent by a member of [opposition leader Dean Winter's] inner sanctum' proving Winter's no-confidence motion was a power grab rather than moved in the interests of Tasmanians. Winter has tipped the purse strings would be tightened during an election campaign. 'This will not be a spendathon from Labor. Our state can't afford it,' he said. Over the weekend, Rockliff ruled out privatisations as a way of balancing the budget, in an attempt to defuse opposition attacks. The turmoil in the state's politics is likely to have repercussions for the Tasmania Devils, the planned 19th team in the AFL. The AFL Commission is meeting today and the political situation is likely to be on the agenda. 1.45pm What we know so far By Carla Jaeger Thanks for tuning into our live coverage of the latest national and international news, headed by Amber Schultz. I'm Carla Jaeger, and I'll be anchoring the blog for the rest of the afternoon. If you're just joining us, here's what you may have missed: A formal investigation is under way into the shooting with a rubber bullet of Nine News correspondent Lauren Tomasi, who was covering the ICE protests in Los Angeles. An IVF clinic in Melbourne has transferred the wrong embryo into a Melbourne woman, the second incident admitted by the fertility giant in as many months. Federal Treasury secretary Steven Kennedy has been appointed the new chief of Prime Minister Anthony Albanese's department. The announcement was made during Albanese's National Press Club address.

Stocks rise ahead of US-China talks outcome
Stocks rise ahead of US-China talks outcome

The Advertiser

time2 hours ago

  • The Advertiser

Stocks rise ahead of US-China talks outcome

Stocks are buoyant and the dollar remains on guard as trade talks between the United States and China are set to extend to a second day, with tentative signs tensions between the world's two largest economies could be easing. US President Donald Trump put a positive spin on the talks at Lancaster House in London, which wrapped up for the night on Monday and were set to resume on Tuesday (7pm AEST). "The fact that we're still up here near record highs, does suggest that we are seeing the market accept what has been said by Trump and when you look at some of the other comments from Lutnick and Bessent, to me it seems to suggest that they are relatively happy with the progress," said Tony Sycamore, a market analyst at IG. "But the market always likes to see some concrete announcements." As Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer were set to meet for the second day with their Chinese counterparts, much of investors' focus has been on the progress of the talks. Any progress in the negotiations is likely to provide relief to markets given Trump's chaotic tariffs and swings in Sino-US trade ties have undermined the world's two biggest economies and hobbled global growth. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.5 per cent, while Nasdaq futures gained 0.62 per cent. S&P 500 futures edged 0.43 per cent higher. EUROSTOXX 50 futures and FTSE futures both added roughly 0.1 per cent each. In Tokyo, attention was also on the Japanese government bond (JGB) market, following news that Japan is considering buying back some super-long government bonds issued in the past at low interest rates. The yield on the 10-year JGB fell one basis point to 1.46 per cent in early trade, while the 30-year yield slid five bps to 2.86 per cent. Yields on super-long JGBs rose to record levels last month due to dwindling demand from traditional buyers such as life insurers, and jitters over steadily rising debt levels globally. "The volatility at the super-long segment of the curve stems from a supply-demand imbalance that has been brewing since the BOJ embarked on balance sheet normalisation," said Justin Heng, APAC rates strategist at HSBC Global Investment Research. Japanese Finance Minister Katsunobu Kato said on Tuesday the government would conduct appropriate debt management policies while communicating closely with market participants. In currencies, the dollar attempted to regain its footing after falling on Monday. Against the yen, the dollar was up 0.45 per cent to 145.25. The euro fell 0.28 per cent to $1.1387 while sterling slipped 0.2 per cent to $1.3523. Trump's erratic trade policies and worries over Washington's growing debt pile have dented investor confidence in US assets, in turn undermining the dollar, which has already fallen more than eight per cent for the year. The next test for the greenback will be on Wednesday, when US inflation data comes due. Expectations are for core consumer prices to have picked up slightly in May, which could push back against bets of imminent Federal Reserve rate cuts. The producer price index (PPI) report will be released a day later. "May's US CPI and PPI data will be scrutinised for signs of lingering inflationary pressures," said Convera's FX and macro strategist Kevin Ford. "If core CPI remains elevated, expectations for rate cuts could be pushed beyond the June 18 FOMC meeting." Traders see the Fed keeping rates on hold at its policy meeting next week, but have priced in roughly 44 bps worth of easing by December. In the oil market, prices edged up, with Brent crude futures gaining 0.24 per cent to $US67.20 ($A103.09) a barrel. US West Texas Intermediate crude was last up 0.25 per cent at $US65.45 ($A100.40) per barrel after hitting a more than two-month high earlier in the session. Spot gold fell 0.5 per cent to $US3,310.40 ($A5,078.22) an ounce. Stocks are buoyant and the dollar remains on guard as trade talks between the United States and China are set to extend to a second day, with tentative signs tensions between the world's two largest economies could be easing. US President Donald Trump put a positive spin on the talks at Lancaster House in London, which wrapped up for the night on Monday and were set to resume on Tuesday (7pm AEST). "The fact that we're still up here near record highs, does suggest that we are seeing the market accept what has been said by Trump and when you look at some of the other comments from Lutnick and Bessent, to me it seems to suggest that they are relatively happy with the progress," said Tony Sycamore, a market analyst at IG. "But the market always likes to see some concrete announcements." As Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer were set to meet for the second day with their Chinese counterparts, much of investors' focus has been on the progress of the talks. Any progress in the negotiations is likely to provide relief to markets given Trump's chaotic tariffs and swings in Sino-US trade ties have undermined the world's two biggest economies and hobbled global growth. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.5 per cent, while Nasdaq futures gained 0.62 per cent. S&P 500 futures edged 0.43 per cent higher. EUROSTOXX 50 futures and FTSE futures both added roughly 0.1 per cent each. In Tokyo, attention was also on the Japanese government bond (JGB) market, following news that Japan is considering buying back some super-long government bonds issued in the past at low interest rates. The yield on the 10-year JGB fell one basis point to 1.46 per cent in early trade, while the 30-year yield slid five bps to 2.86 per cent. Yields on super-long JGBs rose to record levels last month due to dwindling demand from traditional buyers such as life insurers, and jitters over steadily rising debt levels globally. "The volatility at the super-long segment of the curve stems from a supply-demand imbalance that has been brewing since the BOJ embarked on balance sheet normalisation," said Justin Heng, APAC rates strategist at HSBC Global Investment Research. Japanese Finance Minister Katsunobu Kato said on Tuesday the government would conduct appropriate debt management policies while communicating closely with market participants. In currencies, the dollar attempted to regain its footing after falling on Monday. Against the yen, the dollar was up 0.45 per cent to 145.25. The euro fell 0.28 per cent to $1.1387 while sterling slipped 0.2 per cent to $1.3523. Trump's erratic trade policies and worries over Washington's growing debt pile have dented investor confidence in US assets, in turn undermining the dollar, which has already fallen more than eight per cent for the year. The next test for the greenback will be on Wednesday, when US inflation data comes due. Expectations are for core consumer prices to have picked up slightly in May, which could push back against bets of imminent Federal Reserve rate cuts. The producer price index (PPI) report will be released a day later. "May's US CPI and PPI data will be scrutinised for signs of lingering inflationary pressures," said Convera's FX and macro strategist Kevin Ford. "If core CPI remains elevated, expectations for rate cuts could be pushed beyond the June 18 FOMC meeting." Traders see the Fed keeping rates on hold at its policy meeting next week, but have priced in roughly 44 bps worth of easing by December. In the oil market, prices edged up, with Brent crude futures gaining 0.24 per cent to $US67.20 ($A103.09) a barrel. US West Texas Intermediate crude was last up 0.25 per cent at $US65.45 ($A100.40) per barrel after hitting a more than two-month high earlier in the session. Spot gold fell 0.5 per cent to $US3,310.40 ($A5,078.22) an ounce. Stocks are buoyant and the dollar remains on guard as trade talks between the United States and China are set to extend to a second day, with tentative signs tensions between the world's two largest economies could be easing. US President Donald Trump put a positive spin on the talks at Lancaster House in London, which wrapped up for the night on Monday and were set to resume on Tuesday (7pm AEST). "The fact that we're still up here near record highs, does suggest that we are seeing the market accept what has been said by Trump and when you look at some of the other comments from Lutnick and Bessent, to me it seems to suggest that they are relatively happy with the progress," said Tony Sycamore, a market analyst at IG. "But the market always likes to see some concrete announcements." As Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer were set to meet for the second day with their Chinese counterparts, much of investors' focus has been on the progress of the talks. Any progress in the negotiations is likely to provide relief to markets given Trump's chaotic tariffs and swings in Sino-US trade ties have undermined the world's two biggest economies and hobbled global growth. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.5 per cent, while Nasdaq futures gained 0.62 per cent. S&P 500 futures edged 0.43 per cent higher. EUROSTOXX 50 futures and FTSE futures both added roughly 0.1 per cent each. In Tokyo, attention was also on the Japanese government bond (JGB) market, following news that Japan is considering buying back some super-long government bonds issued in the past at low interest rates. The yield on the 10-year JGB fell one basis point to 1.46 per cent in early trade, while the 30-year yield slid five bps to 2.86 per cent. Yields on super-long JGBs rose to record levels last month due to dwindling demand from traditional buyers such as life insurers, and jitters over steadily rising debt levels globally. "The volatility at the super-long segment of the curve stems from a supply-demand imbalance that has been brewing since the BOJ embarked on balance sheet normalisation," said Justin Heng, APAC rates strategist at HSBC Global Investment Research. Japanese Finance Minister Katsunobu Kato said on Tuesday the government would conduct appropriate debt management policies while communicating closely with market participants. In currencies, the dollar attempted to regain its footing after falling on Monday. Against the yen, the dollar was up 0.45 per cent to 145.25. The euro fell 0.28 per cent to $1.1387 while sterling slipped 0.2 per cent to $1.3523. Trump's erratic trade policies and worries over Washington's growing debt pile have dented investor confidence in US assets, in turn undermining the dollar, which has already fallen more than eight per cent for the year. The next test for the greenback will be on Wednesday, when US inflation data comes due. Expectations are for core consumer prices to have picked up slightly in May, which could push back against bets of imminent Federal Reserve rate cuts. The producer price index (PPI) report will be released a day later. "May's US CPI and PPI data will be scrutinised for signs of lingering inflationary pressures," said Convera's FX and macro strategist Kevin Ford. "If core CPI remains elevated, expectations for rate cuts could be pushed beyond the June 18 FOMC meeting." Traders see the Fed keeping rates on hold at its policy meeting next week, but have priced in roughly 44 bps worth of easing by December. In the oil market, prices edged up, with Brent crude futures gaining 0.24 per cent to $US67.20 ($A103.09) a barrel. US West Texas Intermediate crude was last up 0.25 per cent at $US65.45 ($A100.40) per barrel after hitting a more than two-month high earlier in the session. Spot gold fell 0.5 per cent to $US3,310.40 ($A5,078.22) an ounce. Stocks are buoyant and the dollar remains on guard as trade talks between the United States and China are set to extend to a second day, with tentative signs tensions between the world's two largest economies could be easing. US President Donald Trump put a positive spin on the talks at Lancaster House in London, which wrapped up for the night on Monday and were set to resume on Tuesday (7pm AEST). "The fact that we're still up here near record highs, does suggest that we are seeing the market accept what has been said by Trump and when you look at some of the other comments from Lutnick and Bessent, to me it seems to suggest that they are relatively happy with the progress," said Tony Sycamore, a market analyst at IG. "But the market always likes to see some concrete announcements." As Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer were set to meet for the second day with their Chinese counterparts, much of investors' focus has been on the progress of the talks. Any progress in the negotiations is likely to provide relief to markets given Trump's chaotic tariffs and swings in Sino-US trade ties have undermined the world's two biggest economies and hobbled global growth. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.5 per cent, while Nasdaq futures gained 0.62 per cent. S&P 500 futures edged 0.43 per cent higher. EUROSTOXX 50 futures and FTSE futures both added roughly 0.1 per cent each. In Tokyo, attention was also on the Japanese government bond (JGB) market, following news that Japan is considering buying back some super-long government bonds issued in the past at low interest rates. The yield on the 10-year JGB fell one basis point to 1.46 per cent in early trade, while the 30-year yield slid five bps to 2.86 per cent. Yields on super-long JGBs rose to record levels last month due to dwindling demand from traditional buyers such as life insurers, and jitters over steadily rising debt levels globally. "The volatility at the super-long segment of the curve stems from a supply-demand imbalance that has been brewing since the BOJ embarked on balance sheet normalisation," said Justin Heng, APAC rates strategist at HSBC Global Investment Research. Japanese Finance Minister Katsunobu Kato said on Tuesday the government would conduct appropriate debt management policies while communicating closely with market participants. In currencies, the dollar attempted to regain its footing after falling on Monday. Against the yen, the dollar was up 0.45 per cent to 145.25. The euro fell 0.28 per cent to $1.1387 while sterling slipped 0.2 per cent to $1.3523. Trump's erratic trade policies and worries over Washington's growing debt pile have dented investor confidence in US assets, in turn undermining the dollar, which has already fallen more than eight per cent for the year. The next test for the greenback will be on Wednesday, when US inflation data comes due. Expectations are for core consumer prices to have picked up slightly in May, which could push back against bets of imminent Federal Reserve rate cuts. The producer price index (PPI) report will be released a day later. "May's US CPI and PPI data will be scrutinised for signs of lingering inflationary pressures," said Convera's FX and macro strategist Kevin Ford. "If core CPI remains elevated, expectations for rate cuts could be pushed beyond the June 18 FOMC meeting." Traders see the Fed keeping rates on hold at its policy meeting next week, but have priced in roughly 44 bps worth of easing by December. In the oil market, prices edged up, with Brent crude futures gaining 0.24 per cent to $US67.20 ($A103.09) a barrel. US West Texas Intermediate crude was last up 0.25 per cent at $US65.45 ($A100.40) per barrel after hitting a more than two-month high earlier in the session. Spot gold fell 0.5 per cent to $US3,310.40 ($A5,078.22) an ounce.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store