Open today 0.6371
Yesterday’s Range 0.6313 / 0.6400
Open today 0.5976
Yesterday’s Range 0.5924 / 0.6003
Yesterday’s Range 0.6009 / 0.6050
Yesterday’s Range 4.6209 / 4.6760
Yesterday’s Range 1.0646 / 1.0693
Yesterday’s Range 0.5200 / 0.5236
A surge in US Payroll numbers on Friday night has added favour to the US dollar into the weekend. US non-farm payrolls (Sep) came in at 336k versus an expected 170k and previous release revised up to 227k. US Treasury yields rallied as markets and analysts revised expectations for rates to remain higher for longer. The escalation of political tensions and Hamas attacks on Israel over the weekend will dominate markets to open the week, with a chase for safe haven assets such as Gold, US Treasuries and Japanese Yen, while investors shy away from risk assets and risk currencies. No significant data releases for Australia today will have attention on regional equity markets and their reaction to developments in the Middle east. AUDJPY has seen selling interest from the open in early trade. For the AUDUSD look to support at Fridays low of 0.6310’s and selling interest with the fade through 0.64-cents.
Wall Street closed slightly higher as investors digested a US jobs report that implies a stronger US economy amidst slowing wage growth. The DJI was up just +0.9%, while the S&P500 was up +1.2% and the Nasdaq near flat at +% for the session. The Australian share market is expected to open higher today, following on from the enthusiasm of the Wall Street reaction to a stronger US jobs report reflecting a robust economy and moderating inflation.
Gold prices posted gains on Friday and again this morning in reaction to political escalation of the Israel-Hamas conflict.
Copper prices rose above the $8,000 level up 2% that helped to trim back weekly losses. Dalian Commodity exchange is still closed for Golden week holidays.
Brent Crude Oil prices posted steep weekly losses, but futures have rallied today amongst the escalation of political developments between Israel and Hamas.
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