Wall Street was unable to follow through on its Friday night non farm payrolls bounce with hesitation building around the latest ISM services and factory orders print which were much softer than expected.
Currency markets remained under the sway of King Dollar however, with Euro still depressed down at the 1.07 handle while the Australian dollar is poised at the 66 cent level waiting for today’s RBA meeting.
Meanwhile US Treasury yields fell back slightly on the latest ISM data with the 10 year again around the 3.7% level while oil prices remained elevated on Middle East tension, with Brent crude again finishing just above the $76USD per barrel level. Gold was able to make another little bounce from its Friday night shellacking with a lift up to the $1961USD per ounce level.
The full text of this article is available to MacroBusiness subscribers