Macro Morning

Another quiet session overnight as concerns about the the US debt ceiling dominated proceedings, and currency markets are weighing up tonight’s US CPI print.

While Wall Street pulled back slightly alongside European stocks, the USD continued to lift higher against the majors although the Australian dollar remains the most resilient, keeping well above the 67 cent level.

Meanwhile 10 year US Treasury yields pushed up again above the 3.5% level in anticipation of the inflation print as oil prices continued their rebound with Brent crude getting back above the $77USD per barrel.