Web Trader MT5 
Australia’s economy grew less than expected in Q1 2025, with 1.3% year-on-year growth and 0.2% quarter-on-quarter expansion, below the expectations.
The Reserve Bank of Australia already cut rates to 3.85% in May. With inflation at 2.4%, within the target range, the bank considered a larger 50-basis-point cut but opted for 25 points, keeping future cuts possible. The expectations now hint at three more rate cuts in 2025 with a total of 75 basis points.
In the U.S. Market, stock futures held steady after strong tech performance and positive jobs data. The S&P 500 gained 0.58%, Dow 0.51%, and Nasdaq 0.81%.
Nvidia shares rose 3%, as the company surpassed Microsoft in market cap on Tuesday with $3.45 trillion versus Microsoft’s $3.44 trillion, becoming the world’s most valuable public company.
The artificial intelligence chipmaker’s shares rose 3% to $141.40, up 24% over the past month despite export and tariff challenges.
Nvidia’s latest quarterly earnings showed 69% year-over-year growth, with $44.06 billion in sales. The company’s success stems from its AI chips, which power technologies like ChatGPT.
Asia-Pacific markets rose Wednesday following Wall Street’s tech-led rally, with Nvidia leading gains. South Korea’s Kospi jumped 2.43% to a 10-month high.
Other Asian markets showed gains as well: Japan’s Nikkei 225 was up 0.82%, China’s CSI 300 rose 0.52%, Hong Kong’s Hang Seng gained 0.72%, and Australia’s S&P/ASX 200 up 0.77%.
In the Forex market, the US dollar recovered from its Monday losses against major currencies. The dollar index rebounded from its monthly low and jumped 0.78% to $99.35. EURUSD dropped 0.69% to 1.1364.
Gold dropped slightly after nearing the psychological level of $3,400. The price of an ounce was trading at $3,351 by the end of the day.
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