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Australian Capital City Housing Prices Forecast to Fall in 2026, ANZ Says

Capital city housing prices in Australia are forecast to fall 2.1% this year and 3.3% in 2027, ANZ Research said in a report on Monday.The bank had previously forecast 2.8% growth in 2026 and 2.1% in 2027. It attributed the reduction in forecasts to a combination of global uncertainty, three consecutive cash rate hikes, and recent housing policy changes which have led to a sharper than expected slowdown in the housing market.Housing prices in Sydney and Melbourne are expected to fall around 8% in 2026, with prices at a nine-month low in Sydney and a 12-month low in Melbourne. A price correction in Adelaide in South Australia is seen to lead to prices falling 6.4% in 2027.Prices are expected to partly recover in 2028, rising 3.8%, supported by 50 basis points of forecast rate cuts from the Reserve Bank of Australia in late 2027.Meanwhile, investor housing credit growth is expected to decline from a likely peak of more than 10% year over year in the June quarter to negative 0.8% in the first quarter of 2028, ANZ said. Total housing credit growth is expected to ease sharply to a low of 2.9% year over year in early 2028, from 7.1% in the March quarter.Over the medium term, a structural shift is expected in the composition of housing credit, with owner-occupier credit becoming a stronger source of growth.Total private sector credit growth should moderate to 4.2% by the March 2028 quarter from 7.8% in the March quarter before moving higher over the remainder of 2028, per the report.Business credit growth is forecast to slow to 6.6% year over year by the end of 2027 before recovering in 2028. Personal credit growth is seen easing to a low of 1.4% year over year in early 2028, the report said.

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South Korean Securities, Futures Trading Firms' Net Income Jumps 77% in Q1

The preliminary net income of securities and futures trading companies in South Korea jumped 77.1% to 4.327 trillion won in the January-March quarter from 2.443 trillion won in the same period last year, the Financial Supervisory Service said in a Sunday release.Return on equity added 1.6 percentage points to 4.3% for the first quarter from 2.7% a year earlier, according to the release.The securities companies earned a total of 6.693 trillion won in commission income in Q1, up 98.9% from 3.365 trillion won a year earlier, it said.

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South Korea's Household Loans Accelerate in May

South Korea's household loans rose by 9.3 trillion won in May, sharply higher than the 3.5 trillion won increase in April, according to a June 11 release from the Financial Services Commission.Home-backed mortgage loans grew by 4 trillion won during the month, easing from a 5.5 trillion won gain in April.At banks, mortgage lending accelerated to 3.2 trillion won from 2.7 trillion won, while growth in non-bank mortgage lending slowed sharply to 800 billion won from 2.8 trillion won.Other loans increased by 5.3 trillion won, rebounding from a 2 trillion won decline in April, driven by credit loans, which swung to a 3.4 trillion won gain from a 900 billion won drop.

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South Korea's ICT Exports Surge 129% in May

South Korea's information and communication technology (ICT) exports rose 128.9% to $47.79 billion in May from a year earlier, marking the highest-ever ICT export growth rate, the Ministry of Trade, Industry and Energy said in a Sunday release.Imports increased 36% to $15.70 billion, resulting in a trade surplus of $32.09 billion, the release said.Exports increased across all major ICT categories in the month, with semiconductors surging 169.2%, mobile phones up 15.9%, displays adding 2.8%, computers and peripherals soaring 259.6%, and communication equipment up 3.7%, it said.

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New Zealand Electronic Card Spending Rises in May

New Zealand's electronic card spending rose 2.2% month over month to NZ$9.85 billion in May on a seasonally-adjusted basis, compared with the 1.9% decrease recorded in the previous month, according to data from Stats NZ on Monday.Retail spending rose 1.7% to NZ$7.11 billion, following a 1.2% decrease in April.Core retail spending, which comprises consumables, durables, hospitality, and apparel, rose 2.2% to NZ$6.38 billion, following a 1.7% decrease in the previous month.Services spending via electronic cards inched up 0.2% to NZ$388 million, compared with 2.6% decrease in the previous month. Excluding services, spending in non-retail industries rose 2.6% to NZ$2.34 billion, following a 3.7% decrease in the previous month.

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China's Total Social Financing Accelerates to 2.03 Trillion Yuan in May

China's total social financing (TSF), a broad measure of credit and liquidity in the economy, expanded to 2.03 trillion yuan in May from 620 billion yuan in the previous month, according to data from the People's Bank of China (PBOC) released on Friday.The reading beat the consensus forecast of 1.87 trillion yuan tracked by Investing.com.Outstanding TSF growth slowed to 7.7% year over year at the end of May, totaling 458.81 trillion yuan. The slowdown was due to a drop in outstanding foreign currency loans to the real economy and outstanding undiscounted bank acceptance bills.

China's Outstanding Yuan Loans Grow at Softer Pace in May

China's outstanding yuan loans grew 5.5% year over year at the end of May to 281.02 trillion yuan, according to data from the People's Bank of China (PBOC) released on Friday.The pace of expansion was softer than the 5.6% growth recorded in the previous month. The latest print was in line with the consensus forecast tracked by Investing.com.The outstanding balance of yuan and foreign currency loans at the end of May rose 5.4% year over year to 284.79 trillion yuan, also slowing from the 5.5% increase in April.

China's Broad Money Supply Growth Steady in May

China's broad M2 money supply grew 8.6% year over year to 353.7 trillion yuan as of the end of May, according to data from the People's Bank of China (PBOC) released on Friday.The pace of expansion was unchanged from the growth recorded in April. It was also in line with the consensus forecast tracked by Investing.com.Meanwhile, narrow money supply (M1) rose 5.5% at the end of May to 114.89 trillion yuan, faster than the 5% increase in April. Currency in circulation (M0) stood at 14.69 trillion yuan, up 11.9% year over year, slowing from the 12.2% growth in the previous month.

China's New Yuan Loans Return to Growth to 520 Billion Yuan in May

China's banks extended 520 billion yuan in new yuan loans in May, according to data from the People's Bank of China (PBOC) released on Friday.The monthly credit expansion beat the consensus forecast of 550 billion yuan tracked by Investing.com, and recovered from the 10 billion yuan drop in new loans recorded in April.For the first five months of 2026, new yuan loans in China totaled 9.11 trillion yuan, boosted by higher loans to enterprises and institutions.

New Zealand Home Sales Fall 12.6% Year Over Year in May as Median Price Ticks Higher, REINZ Says

The volume of national home sales in New Zealand fell 12.6% year over year in May to 6,523, while the median sale price ticked 1.3% higher to NZ$775,000, according to data released Monday by the Real Estate Institute of New Zealand (REINZ).REINZ cautioned that the sales count comparison needs some context, as data for May 2025 followed earlier cuts to the country's official cash rate and relatively stronger market momentum.The national house price index edged down 0.6% annually to 3,585 in May, indicating a softer underlying price trend, albeit with continued strength in some of the country's higher-value and better-performing regions, according to the report."May 2026 points to a housing market that is steadier but still cautious and regionally uneven," REINZ said. "While buyers remain selective, market conditions continue to vary across the country, with some regions in the South Island recording particularly strong results, including new median price records."But the continuation of this trend will depend on several factors, including the central bank's July interest rate decision and the national election, as well as external influences like the Middle East conflict, the institute added.The data also showed property inventory levels in the country rising 5% year over year in May to 36,130. REINZ said a key indicator going forward will be whether sales activity keeps up with new supply as winter progresses.

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New Zealand Services Sector Contracts Further in May on Weak Demand

New Zealand's services sector contracted further in May as weak consumer demand and rising costs continued to weigh on activity, according to a statement by BusinessNZ on Monday.The BusinessNZ Performance of Services Index (PSI) fell to 47.5 in May from 48.7 in April. A reading below the 50-point mark points to contraction.Consumer caution continued to weigh heavily on discretionary services in May, with cafes, restaurants, and personal leisure businesses among the weakest as households held back on non-essential spending, said Katherine Rich, BusinessNZ's chief executive.The activity/sales indicator fell to 44.7 in May from 48.5 in April, while the employment measure inched up to 48.6 from 48.5. Stocks/inventories edged down to 47.5 from 47.6, supplier deliveries increased to 49.5 from 46.8, and new orders/business decreased to 47.6 from 50.9.Rising fuel costs and weak demand from low consumer confidence continue to weigh on businesses, with just over two-thirds of respondents reporting negative conditions, unchanged from April, the report said.The PSI has remained in contractionary territory in recent months, reflecting a sector still struggling to regain momentum and move back into expansion, said Doug Steel, BusinessNZ's senior economist.The seasonally adjusted BusinessNZ Performance of Composite Index declined as ongoing weakness in the PSI persisted, with both the manufacturing and services components remaining in contraction.The gross domestic product-weighted and free-weighted indexes both contracted further in May, falling to 48 and 48.4, respectively, from 48.5 and 49.2 in April.

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S&P/TSX CompositeS&P/TSX Composite$CXY$CAD$USD

TSX Closer: The Index Gains as Gold Rebounds, Household Net Worth Climbs

The Toronto Stock Exchange closed with a gain on Friday as investors welcomed higher gold prices and assessed fresh data showing Canadian household wealth continued to grow in the first quarter despite volatility in financial markets.The S&P/TSX Composite Index closed up 266.39 points, or 0.77%, to 34,937.85, as strong gains in battery metals, base metals and financial stocks outweighed weakness in health care, technology and energy shares.Battery Metals Index led gainers, up 6.70%, with Base Metals, Industrials, Utilities, and Financial, up 2.21%, 0.60%, 0.07%, and 0.86%, respectively. Health Care led decliners, down 1.64%, with Information and Technology, down 0.99%, Telecom, down 0.12%, and Energy, down 0.48%.In commodities, gold traded sharply higher on Friday, rising off a seven-month low on expectations Iran is ready to sign a peace deal with the United States, promising to lower the high oil prices that have raised inflation and boosted the U.S. dollar and bond yields.Gold for July delivery was last seen up US$124.80 to US$4,238.80 per ounce after falling to the lowest since Nov. 20 a day earlier. The rise comes as U.S. President Trump on Thursday said he canceled planned attacks on Iran and said a peace deal with the country is near.For oil, West Texas Intermediate (WTI) crude fell for a second day on Friday, falling to the lowest in nearly two months on expectations the United States and Iran are near a deal to end their war and reopen the Strait of Hormuz. WTI crude oil for July delivery closed down US$2.83 to settle at US$84.88 per barrel, the lowest since April 17, while August Brent oil was last seen down US$3.11 to US$87.27.With the prospect of lower geopolitical tensions and a potential peace deal in sight between the United States and Iran, the US dollar (USD) sold off early Friday as the demand for safe havens cooled, said Rosenberg Research.Oil prices are responding to the possibility of a deal between the U.S. and Iran, as both Brent and WTI have pulled back by more than 4.0%, noted Rosenberg. The other currencies that are underperforming as things settle are the Canadian dollar and the Norwegian krone, two currencies that markets closely identify with oil price moves, stated Rosenberg.Beyond commodity markets, fresh economic data showed Canadian household wealth continued to grow in the first quarter despite volatility in financial markets. Household net worth rises in the face of volatile equity markets, said Statistics Canada in a statement on Friday.The net worth of Canadian households, the value of all assets minus all liabilities, rose 1.3% in the first quarter of 2026 to reach just over $18.6 trillion, as the value of both non-financial and financial assets increased in tandem. Following two consecutive quarterly declines, non-financial assets were up 1.1% in Q1, led by an uptick in the value of residential real estate. Financial assets increased by 1.3%.Household balance sheets added $148.0 billion in financial assets in Q1, and this gain was driven by net purchases of mutual fund units and higher valuations of domestic equities and investment funds amid easing valuations for foreign equity holdings, StatsCan noted.Meanwhile the seasonally adjusted stock of household credit market debt in Canada reached $3.25 trillion in Q1, the latest StatsCan data revealed. At the same time, the ratio of household credit market debt as a proportion of household disposable income increased for the sixth consecutive quarter, climbing by 0.9 percentage point to 179.6% in Q1. In other words, there was roughly $1.80 in credit-market debt for every dollar of household disposable income, the agency said.The household debt service ratio, measured as total obligated payments of principal and interest on credit market debt as a proportion of household disposable income, rose after two consecutive quarterly declines. The ratio finished Q1 at 14.75%, up from 14.68% in Q4 2025, as total debt payments rose 1.1% to outpace income, added StatsCan.The value of household residential real estate rose 1.3% to $8.47 trillion in Q1, despite a decline in real estate activity as measured by resales. According to the MLS House Price Index, the composite house price increased by 0.7% in the first three months of 2026; however, the number of resales declined by 8.4%. In contrast, StatsCan's New Condominium Apartment Price Index indicated that, since the first quarter of 2025, new condominium apartment prices have fallen by 5.9% in Toronto and by 2.9% in Vancouver. According to the Bank of Canada's Financial Stability Report, pressures in condominium markets, particularly in Toronto and Vancouver, have created challenges for condominium owners and investors.Besides, the household saving rate fell to 3.5% in Q1 as growth in disposable income (+0.6%) lagged that in nominal household spending (+0.9%). Households continued purchasing mutual fund shares in the first quarter of 2026, registering the third-largest acquisition (+$75.3 billion) on record and following the record-high investment in the fourth quarter of 2025 (+97.1 billion) StatsCan said. In 2025, households benefitted from record-high reinvested earnings through fund investment incomes and capital gains, while in the first quarter of 2026, households focused on record net investments in exchange-traded funds.Additionally, the Bank of Montreal (BMO) noted implications of the expected negative birth rate in the country. In Canada, demographic attention has been rightly focused on the massive influx and then capping of non-permanent residents, said BMO. However, a collapse in natural population growth has been unfolding in the background. Net births are expected to turn negative for the first time ever in 2028, stated BMO. That is, more Canadians will begin to pass away than will be replaced with new babies.According to the bank, there are many causes and many longer-term implications. Among the latter, the lower labor force and potential economic growth, lower break-even job growth rates, a role for artificial intelligence to drive more productivity, mounting stress on social security funding, and an evolving housing demand curve.

Dow JonesNasdaq CompositeS&P 500$ADBE$SPCX

Update: US Equity Indexes Rise After Iran Says Peace Deal With Washington in Final Stage of Discussions

(Updates with index/price moves, analyst comment, and other information from the first paragraph.)US equity indexes rose amid growing expectations that the Iran interim peace deal is in the final stretch and an 19% surge in Space Exploration Technologies (SPCX) shares on its Nasdaq debut.The Dow Jones Industrial Average rose 0.7% to 51,202.26, followed by a 0.5% increase in the S&P 500 to 7,431.46, and a 0.3% increase in the Nasdaq Composite to 25,888.84 on Friday. All sectors except consumer discretionary and healthcare advanced. Materials, financials, and utilities led the gainers.Iran is in the final stages of discussing the terms of an agreement with the US, CNN cited Iranian Foreign Ministry spokesperson Esmaeil Baghaei as saying in state media on Friday. "At present, understanding has been reached on the majority of issues, and we are in the final stage of internal deliberations," CNN cited Baghaei as saying."With close observation of the other side's positions, we will announce our stance according to circumstances," the spokesperson was cited as saying. "Even as I am speaking with you now, meetings among the relevant institutions are underway."Crude oil futures slumped, with front-month global benchmark North Sea Brent sliding 3.7% to $87.02 per barrel. The US West Texas Intermediate dropped 3.6% to $84.54 per barrel."Oil slumped after President Trump talked up another peace deal, with markets this time appearing increasingly willing to believe it may be for real, despite the lack of confirmation from Tehran," Saxo Bank said in a note. "Brent crude fell to a two-month low amid expectations of a surge in supply from tankers currently stranded in the Gulf."In precious metals, gold futures jumped 2.7% to $4,226.8, while silver futures surged 5.9% to $67.77.In company news, shares of Space Exploration Technologies (SPCX) or SpaceX closed at $160.95, 19.2% above its initial public offering price of $135, making Elon Musk the world's first trillionaire.Adobe's (ADBE) Chief Financial Officer Dan Durn's departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note. Shares dropped 6.8%, among the worst performers on the S&P 500 and the Nasdaq.In economic news, the University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, topping expectations of 46.0 in a Bloomberg-compiled survey. One-year inflation expectations fell to 4.6% from 4.8%, while five-year inflation expectations dropped to 3.4% from 3.9%."Even with June's early gains, however, views of the economy are still relatively dour," the University of Michigan said Friday in a statement. Consumers "feel burdened by the recent escalation in inflation and worry that higher inflation could remain stubborn going forward, particularly in the short run," the university said.Most US Treasury yields rose, with the 10-year up two basis points to 4.49% and the two-year climbed 1.5 basis points to 4.09%.

Dow JonesNasdaq CompositeS&P 500$ADBE$STX

US Equity Markets End Higher After Iran Confirms Progress on Peace Agreement, Crude Oil Prices Fall

US equity indexes were higher on Friday after Iran confirmed discussions on a peace treaty and crude oil prices fell.* Iran is in the final stages of discussing the terms of an agreement with the US, CNN cited Iranian Foreign Ministry spokesperson Esmaeil Baghaei as saying in state media on Friday. The draft deal includes a commitment that the US will lift oil sanctions, final negotiations will not begin until half of Iran's frozen funds are released, and a US naval blockade ends, CNBC reported, citing Iran's Mehr News Agency.* The University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, beating expectations for 46.0 in a Bloomberg-compiled survey.* July West Texas Intermediate crude oil fell $3.27 to settle at $84.44 per barrel, while August Brent crude, the global benchmark, was last seen down $3.45 at $86.93.* Seagate Technology (STX) shares were up about 7.3%, among the top gainers on the S&P 500, after the company said its Seagate HDD Cayman unit issued a notice to redeem all outstanding 3.50% exchangeable senior notes due 2028 that have not been exchanged.* Adobe's (ADBE) CFO departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note emailed Friday. The company's shares were down nearly 6.8%, the steepest decline on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$SPCX

Update: US Equity Indexes Rise After Iran Signals Peace Deal in Final Stretch

(Updates with index/price moves and Iran peace deal talks from the first paragraph.)US equity indexes advanced as expectations grew that an interim peace deal to end the war in Iran is close after Tehran reportedly confirmed discussions over the terms are in the final stretch.The Dow Jones Industrial Average rose 0.8% to 51,227.1, followed by a 0.4% increase in the S&P 500 to 7,425.2, and a 0.3% increase in the Nasdaq Composite to 25,881.5 ahead of the close on Friday.All sectors except consumer discretionary and healthcare advanced. Materials, financials, and energy led the gainers.Iran is in the final stages of discussing the terms of an agreement with the US, CNN cited Iranian Foreign Ministry spokesperson Esmaeil Baghaei as saying in state media on Friday. "At present, understanding has been reached on the majority of issues, and we are in the final stage of internal deliberations," CNN cited Baghaei as saying."With close observation of the other side's positions, we will announce our stance according to circumstances," the spokesperson was cited as saying. "Even as I am speaking with you now, meetings among the relevant institutions are underway."Crude oil futures slumped, with front-month global benchmark North Sea Brent sliding 3.8% to $86.98 per barrel. The US West Texas Intermediate dropped 3.7% to $84.45 per barrel.Meanwhile, in company news, shares of Space Exploration Technologies (SPCX) or SpaceX opened at $150, above its initial public offering price of $135 apiece, making Elon Musk the world's first trillionaire. Shares traded 23%.

Cargo Traffic to Los Angeles Port Expected to Rise in Week Ending June 27

Cargo traffic at the Port of Los Angeles is expected to rise in the week ending June 27, according to data from ship-tracking system Port Optimizer.A total of 142,134 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects an 18% increase from the previous week and a 7% rise from a year earlier.Twenty-six freight vessels are scheduled to arrive at the port in the week ending June 27, the data showed. That compares with 21 vessels scheduled this week and 22 scheduled in the week ending June 20.

Dow JonesNasdaq CompositeS&P 500$ADBE$SPCX

Update: US Equity Indexes Advance Amid Hopes of Iran Peace Deal, SpaceX Shares Surging in Nasdaq Debut

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes rose while crude oil slumped amid hopes that an interim deal between Tehran and Washington to end the war is close, and shares of Space Exploration Technologies (SPCX) soared in its Nasdaq debut on Friday.The Dow Jones Industrial Average rose 0.7% to 51,220.4, followed by a 0.5% increase in the S&P 500 to 7,430.8, and a 0.3% increase in the Nasdaq Composite to 25,895.5. All sectors except consumer discretionary advanced. Materials, financials, and energy led the gainers.Iran's foreign minister said a deal "has never been closer," CNN reported Friday. President Donald Trump decried Tehran as "dishonorable" for what he said were inaccurate state media descriptions of a potential interim US-Iran agreement, the news report said.The draft deal includes a commitment that the US will lift oil sanctions, final negotiations will not begin until half of Iran's frozen funds are released, and a US naval blockade ends, CNBC reported, citing Iran's Mehr News Agency. The deal also includes, among other things, Iran's pledge to reopen the Strait of Hormuz within 30 days of deal signing, according to Mehr's report."What they said, including their weak and pathetic statement on having a deal, bears no relation to the truth," Trump said in a Truth Social post Friday.Nevertheless, crude oil futures slumped. Front-month global benchmark North Sea Brent slid 3.6% to $87.15 per barrel, and US West Texas Intermediate dropped 3.4% to $84.70 per barrel.In precious metals, gold futures jumped 3.1% to $4,239.10, while silver futures surged 5.9% to $67.81.In company news, shares of Space Exploration Technologies or SpaceX opened at $150, above its initial public offering price of $135 apiece, making Elon Musk the world's first trillionaire. Shares traded more than 29% after midday.Adobe's (ADBE) Chief Financial Officer Dan Durn's departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note. Shares dropped 7.2%, among the worst performers on the S&P 500 and the Nasdaq.In economic news, the University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, topping expectations for 46.0 in a Bloomberg-compiled survey. One-year inflation expectations fell to 4.6% from 4.8%, while five-year inflation expectations dropped to 3.4% from 3.9%."Even with June's early gains, however, views of the economy are still relatively dour," the University of Michigan said Friday. Consumers "feel burdened by the recent escalation in inflation and worry that higher inflation could remain stubborn going forward, particularly in the short run," the university said.Most US Treasury yields rose, with the 10-year up 1.6 basis points to 4.48% and the two-year climbed 1.3 basis points to 4.08%.

Michigan Consumer Sentiment Rises More Than Expected in Early June

The University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, topping expectations for a 46.0 reading in a Bloomberg survey.The current conditions index increased to 48.4 from 45.8, while the expectations reading jumped to 49.3 from 44.1."Even with June's early gains, however, views of the economy are still relatively dour," the University of Michigan said Friday in a statement. "Consumers remain focused on kitchen table issues."Consumers "feel burdened by the recent escalation in inflation and worry that higher inflation could remain stubborn going forward, particularly in the short run," the university said.One-year inflation expectations fell to 4.6% from 4.8%, while five-year inflation expectations dropped to 3.4% from 3.9%.The twice-monthly sentiment index measures consumer sentiment early in the current month and is then revised later in the month in a final estimate. The headline index is a combination of the current assessment and expectations for the near future.A higher reading suggests consumers are more confident, a positive for stocks if that confidence translates into spending. Increased demand is usually inflationary, a negative for bonds.