Markets uncertain despite strong Services ISM

Tuesday 6th May 2025

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There’s much less enthusiasm in the markets today, with US equities finishing deeply in the red at session lows, finishing a nine-day winning streak. There’s no readily apparent reason, except perhaps for concerns the scope and timing of US trade deals. The Taiwanese dollar rose further today over reports that a trade deal would be based on an appreciation in their currency. NAB’s Taylor Nugent talks through the latest tariff news, the latest Services ISM data for the US, as well as the declines in oil prices as OPEC+ increase supplies at a time of an expected global downturn.  

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