plainmoney — Market brief — Thursday 25 Jun 2026 — 06:45 AEST
The straight answer
Global markets saw a broad tech sell-off overnight, with the S&P 500 down 0.1% and the Nasdaq falling 0.4%, as US dollar strength pressured global markets. This trend also saw gold and crude oil prices decline significantly. For Australia, the ASX 200 is expected to open little changed, while the Australian dollar has softened to 0.6903 against the US dollar. The next major catalyst to watch is China's NBS PMI data this Wednesday (1 Jul), 11:30am AEST.
What it means for you: Your super may see minor impacts from global tech weakness, and your cost of living could be affected by a weaker Aussie dollar making imports dearer.
What's moving markets
US equities experienced a mixed session, largely driven by a tech sell-off. The S&P 500 closed down 0.1% at 7,358.2, while the Nasdaq fell 0.4% to 25,476.6. In contrast, the Dow gained 0.4% to 51,848.9 and the Russell 2000 also rose 0.4% to 2,986.6. The VIX volatility index eased 4.4% to 18.6. US 10-year bond yields remained at 4.40%.
Commodity markets saw notable declines. WTI crude fell 4.6% to 69.8, and Brent crude dropped 5.1% to 73.1. Gold was down 2.7% to 4,016.9, while copper declined 2.5% to 5.9845. Iron ore, a key Australian export, saw a minor dip of 0.2% to 100.5.
In crypto, Bitcoin (AUD) fell 2.3% to 88,115, and Ethereum (AUD) was down 2.8% to 2,333.7.
For Australia: The S&P/ASX 200 is anticipated to open little changed, following the mixed global lead. The Australian dollar weakened significantly, falling 1.3% against the US dollar to 0.6903, and also softened against the Japanese Yen (down 1.2% to 111.7) and the New Zealand dollar (down 0.3% to 1.2209). The AU-US 10-year bond spread remains at +37 bp. The RBA cash rate is currently 4.35%.
World & geopolitics
A broad tech sell-off reverberated through global markets overnight. Per Reuters and Bloomberg, tech stocks dragged global indices lower. This trend was also cited by marketpulse.com, noting that US Dollar strength pressured global markets. Mining.com reported that the gold price slumped as this tech sell-off continued.
What it means for your money
Your super: May see minor impacts from the global tech sector weakness and the softening Australian dollar.
Your cost of living: A weaker Australian dollar (AUD/USD at 0.6903) means imports, including petrol, become dearer.
What to watch
The next significant market catalyst is China's NBS PMI data this Wednesday (1 Jul), 11:30am AEST. If the print comes in stronger than expected, it could signal improving economic health in China, potentially supporting commodity prices and the Australian dollar. Conversely, a weaker print could suggest ongoing economic headwinds, possibly leading to further pressure on commodities and the AUD. The live indicator to watch will be the immediate reaction in iron ore prices and the AUD/USD exchange rate.
Today's moves
The numbers
What's coming up
- 3Jul22:30US Non-farm payrolls USImpact: high
- 8Jul22:30US CPI USImpact: high
- 1Jul11:30China NBS PMI CNImpact: medium
- 9Jul11:30China CPI/PPI CNImpact: medium
What we're watching
RBA cash-rate path
US Fed path
Iron ore & China demand
China property & stimulus
AU housing cycle
Yen carry & BoJ
AI capex cycle
Global risk regime
Sources
- Reserve Bank of Australia — tier A, free
- Yahoo Finance (via yfinance) — tier B, free
- CoinGecko — tier A, free
- Google News (RSS) — tier B, free
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