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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...
• Shaky ground. A bout of risk aversion has washed through markets the past few days. US equities lose ground. USD firmer. AUD down near ~$0.6900.• Macro pulse. US PCE deflator out tonight. Australian jobs report due today. We think the cross-currents point to more downside risks for the AUD.
Global Trends
Markets have been on edge for the past few days with a bout of risk aversion washing through....
Good morning. The trade-weighted dollar is holding near a sixteen-month high, Treasury yields are slipping, and US equity futures are rebounding after a steep technology-led selloff earlier in the week.
Oil prices are slipping as markets brace for the release of millions of barrels in pent-up supply. Physical flows through the Strait of Hormuz are beginning to resume as tankers get underway and a...
Good morning. The dollar is advancing against all of its major peers, driven by a Federal Reserve that has turned far more hawkish, and a deterioration in risk appetite as technology stocks retreat.
Last week’s abrupt pivot from the Federal Reserve is still rippling across markets, and confounding the early-2026 consensus for a weaker dollar. After a series of stronger-than-expected data releases...