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• Risk wobbles. US/European equities slipped back overnight. USD firmer. NZD treading water while AUD underperforms. AUD still tracking sub ~$0.69.• Data trends. On net, more solid US data released the past few days. Monthly US jobs report released tonight. Fed rate hike pricing could shift again.
Global Trends
After a positive end to Q2 there were a few modest wobbles across markets overnight....
Good morning. In the absence of any major volatility catalysts, the dollar is adding to its gains and Treasury yields are holding firm, with equity futures pointing to a flat open. Oil prices have fallen back to levels last seen before the US-Israeli-Iranian conflict began at the end of February, and the skirmishes that continue to flare are drawing diminishing reactions from markets—a sign that traders...
• Risk rebound. US equities rose overnight after last week’s falls. USD/JPY touched highest point since 1986. AUD treading water just under ~$0.69.• Data pulse. RBA minutes & China PMIs due today. Later this week US Fed Chair Warsh speaks, the ISM is due, & non-farm payrolls are released.
Global Trends
After the recent bout of risk aversion which saw US equities decline and the USD...
Good morning. The dollar is holding near a 13-month high and Treasury yields are edging upward as equity futures point to a modest advance at the open, with the Nasdaq set to recover some ground after falling more than 4% last week amid jitters over artificial intelligence valuations. Traders are bracing for turbulence as quarter-end flows collide with a series of key labour market and economic activity...
• Holding on. Consolidation across most markets after the recent turbulence. USD treads water. AUD hovering near ~$0.69, ~5% from its May peak.• Data flow. AU jobs rebound in May, but that only unwound the April falls. More doubts RBA will hike again. US data firm. US Fed rate hikes underpriced?
Global Trends
Following the recent bouts of turbulence, there was a relative sense of calm and modest...
Good morning. The dollar is edging lower and trading ranges are narrowing across currency markets ahead of the personal consumption expenditures report—the Federal Reserve’s preferred inflation gauge—at 8:30. Evidence of resilient underlying price pressures might reignite the dollar’s rally—or a softer reading could open a wider reappraisal of the higher-for-longer policy expectations that...
