🌅 Morning Market Update | 28.05.2025 📊 Asia-Pacific Markets: Mixed Moves Trading in the region is choppy today: 🇨🇳 China: Flat, swinging within ±0.30% 🇯🇵 JP225: -1.25% 🇦🇺 AU200.cash: -0.70% 🇸🇬 SG20cash: +0.20% 💵 USD Strengthens Slightly The US dollar extended Tuesday’s gains against most majors — except the 🇳🇿 New Zealand dollar, which jumped after the RBNZ struck a less dovish tone. 🏦 RBNZ Cuts Rates to 3.25% The Reserve Bank of New Zealand cut the OCR by 25bps (vote: 5–1) and hinted at more easing ahead (OCR may reach 2.85% by Q1 2026). 📈 NZD/USD climbed after the announcement. 📉 Risks cited: global tariffs & slowing demand ✅ Inflation remains within the target range 🧩 RBNZ minutes reveal: a cut was seen as more aligned with the price stability mandate, though the full impact of past cuts hasn’t yet played out. 🇺🇸 Fed’s Williams: Not Time to Cut NY Fed’s John Williams reiterated there’s little appetite for rate cuts. ⚠️ Inflation uncertainty and trade policy risks call for caution. 🇯🇵 Japan’s Moves on Trade & Bonds Japan may buy $6.94B in US semiconductors to ease its trade surplus. BoJ’s Ueda flagged concerns about wild JGB yield swings after a weak 40-year bond auction (bid-to-cover: 2.2). 🎯 Volatility may lift funding costs despite steady short-term rates. 🏛 Trump Revives Fannie & Freddie Plans Donald Trump again floated plans to take Fannie Mae & Freddie Mac public — this time assuring federal backing. 💬 Clearer than previous proposals, this may rekindle investor interest. 📈 Australia CPI: Slightly Hotter 🇦🇺 Monthly CPI rose 2.4% YoY (vs. 2.3% expected) 🔥 Trimmed mean: 2.8% — still within RBA’s 2–3% target. With the next RBA meeting in July, markets are now split on the odds of a near-term rate cut.