All quiet on tariff talks, but UK surprises with soft jobs data

Wednesday 11th June 2025

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The UK has grabbed a bit of the focus overnight. All eyes are on the US-China trade talks in London. Equities have been helped by the positive sentiment coming from US trade secretary Howard Lutnick, although NAB’s Rodrigo Catril wonders whether the US Commerce Secretary has a tendency to talk things up. Some of the biggest market moves though, relate to the UK’s employment detail was softer than expected, with a sharp rise in unemployment claims. Phil and Rodrigo also talk about the NAB Business Survey yesterday and look ahead to US CPI today.

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