US economic trends in focus
• Quiet markets. US holiday overnight. European equities ticked up. USD a bit softer. AUD near the top of its multi-week range.• Economic trends. US macro headwinds continue to build. Markets are pricing in a stream of US Fed interest rate cuts from the mid-September meeting.• Event Radar. AU GDP due Wednesday. US ISM survey out tonight. Later in the week focus will be on the monthly US jobs report (Fri night AEST). Global Trends A quiet start to the new week in markets. No surprise given the US was closed for ‘Labor Day’. There was no reaction to the...