New Zealand Food Inflation YoY

Australia RBA Hunter Speech

The S&P/TSX Composite rose 0.5% to close at a fresh record of 29,431 on Monday, as investors awaited policy decisions from North America’s major central banks. Most major sectors traded firmly in the green with the rate-sensitive tech sector leading the way as mega-cap Shopify rose 2.6%, followed by financial powerhouse Brookfield adding 1.9%, and energy producing giant Canadian Natural Resources gaining 2.2%. Markets are pricing a 25 basis point cut from the Bank of Canada on Wednesday amid signs of a weakening labour market and softer economic activity, with another reduction expected next quarter. The Federal Reserve is also fully priced for a 25 basis point cut at its upcoming meeting, with a small chance of a larger move, and traders broadly expect additional easing through year end.

TSX Sets Fresh Record High

Uruguay’s GDP grew 2.1% year-on-year in Q2 2025, slowing from 3.6% in the previous quarter, reflecting softer activity across key sectors. Growth was supported by agriculture, fishing, and mining, which expanded 10.6% after 6.3% in Q1, and by manufacturing, up 7.6% though easing from 17.9%. Financial services also contributed positively, rising 4.8% after 5.1%. On the downside, utilities contracted 7.9% after a 3.5% drop, while construction slipped 0.2% following a 1.5% decline. Trade, lodging, and food services posted marginal growth of 0.3%, down from 2.5%, while transport and communications fell 0.3% after a 1% drop. Overall, gross value added rose 1.9% from 3.3% previously, and net taxes on products advanced 3.3%, maintaining the same pace as in Q1.

Uruguay GDP Growth Slows in Q2 2025

Stocks in the US closed higher on Monday, lifted by tech gains as investors looked ahead to Wednesday’s Federal Reserve decision. The S&P 500 rose 0.4%, the Nasdaq advanced 0.8% to extend its record high, and the Dow added about 50 points. Tesla jumped 3.6% after CEO Elon Musk disclosed a nearly $1 billion stock purchase, his largest ever in the open market, while Alphabet gained 4.3% to hit a $3 trillion valuation, boosting communication services. Nvidia finished flat, paring earlier losses after China’s regulator said the company had violated anti-monopoly laws, while Texas Instruments fell 2.4% on news of a Chinese anti-dumping probe into US analog chipmakers. Trade tensions also lingered as President Donald Trump signaled progress in US-China negotiations, including a potential deal related to TikTok, though risks around tariffs and tech restrictions remain.

Nasdaq 100 Extends Record High

Brent crude oil futures gained 0.7% to settle at $67.4 per barrel on Monday, extending last week’s gains as traders balanced escalating Ukrainian drone attacks on Russian energy facilities against forecasts of a looming supply surplus. Ukraine launched a major strike with more than 360 drones, briefly igniting a fire at the 355,000-barrel-per-day Kirishi refinery, just days after targeting the Primorsk export terminal, which handles about 1 million barrels per day. Pressure on Moscow intensified after US President Donald Trump reiterated his readiness to impose sweeping sanctions on Russian crude if NATO allies halt purchases, a step that could reshape global energy flows. Also, investors are watching US-China trade talks in Madrid, where Washington is pressing allies to impose tariffs on Chinese goods over Beijing’s continued buying of Russian oil. Still, gains were capped by concerns over softening US demand and expectations of a global surplus as OPEC+ ramps up production.

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TSX Sets Fresh Record High

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