Weekly Chartbook

Selling pressure is easing across global financial markets after volatility expectations intensified during yesterday’s session, triggering classic risk-off dynamics and lifting the dollar to its best daily performance in weeks. Benchmark ten-year Treasury yields are down 4 basis points to 4.10 percent, the greenback is paring its advance against a basket of its most-traded rivals, and North American...

Foreign exchange markets are trading on a mixed footing this morning as the US government data backlog begins to clear and investors brace for a series of critical corporate earnings releases. Equity futures are pointing to a firmer open (although this may be a Pavlovian response to a ten-week winning streak on Mondays), and benchmark Treasury yields are creeping up ahead of appearances from Fed officials...

• Cross-currents. Bursts of intra-day vol., but net market moves minimal. US equities flat on Friday. AUD & NZD ticked up a fraction.• US data. With the government shutdown over US data flow picks up. Delayed September non-farm payrolls report due this week (Thurs night AEDT).• Event Radar. Australian Q3 wages are out (Weds). Global PMIs are on the calendar (Fri). Several US Fed members also set...

A global rout in risky assets looks set to extend into a third day as investors turn more sceptical on artificial intelligence spending and pull back on expectations for a rate cut at the Federal Reserve’s December meeting. North American equity futures—particularly on technology-focused indices—are pointing to renewed selling pressure at this morning’s open, Treasury yields are modestly higher across...

• Market wobbles. US shutdown ends. Market jitters return. US equities fall while yields rise. USD softer versus majors like EUR & JPY. AUD slips back.• AU jobs. Employment conditions rebound with unemployment declining. Odds RBA doesn’t cut rates again have risen. China data batch due today. Global Trends There were a few renewed wobbles in risk sentiment overnight with US assets at the...

Markets are struggling to gain traction this morning as the US government shutdown ends and a hawkish repricing in Federal Reserve expectations continues. Treasury yields are holding near yesterday’s levels, equity futures point to a mixed open, and the broad dollar index is edging lower as traders conclude that any boost from Washington’s return to business has largely been absorbed in market pricing....

• Calm markets. Modest moves in US equities while bond yields dipped. AUD & NZD tick up a bit. AUD also firmer on major cross-rates.• US shutdown. US government shutdown looks set to finally end. Delayed US data should be released over coming weeks. This may see vol. increase.• AU jobs. Monthly jobs data released today. Will the surprise lift in unemployment retrace? Solid report would support...

Financial markets are back in risk-on mode as US lawmakers return to Washington for a vote that could end a 43-day shutdown that paused federal government paycheques, delayed vital food aid for millions of Americans, and disrupted global airline travel. House Republicans are expected to support Monday’s spending package in today’s session, clearing the way for a reopening of the government by Friday....

The dollar is retreating and Treasury yields are slipping as the longest shutdown in American history shows signs of coming to an end. Trading volumes look light ahead of tomorrow’s holiday, but measures of risk appetite are improving and investors are moving out of safe havens like the Japanese yen and Swiss franc into economically-sensitive units like the Aussie, Canadian dollar, and Mexican peso...

• Intra-day swings. More headline driven gyrations on Friday. US equities swung around. USD index a bit softer. NZD on backfoot. AUD a little higher.• US shutdown. Current US gov. shutdown longest in history. Macro impacts starting to show. Pressure on lawmakers to reach a deal is growing.• Event Radar. In Australia the monthly jobs report is due (Thurs). The China data batch is out (Fri). Several...