US markets were mixed overnight as investors continued to rotate out of parts of the technology sector amid ongoing valuation concerns, with the Dow Jones edging higher while the S&P 500 and Nasdaq both finished lower. Treasury yields moved sharply lower as easing Middle East tensions reduced demand for defensive positioning, though the US dollar continued to strengthen ahead of today’s busy data schedule. Oil fell heavily as Strait of Hormuz traffic continued to normalise, and gold broke below $4,000 per ounce for the first time this year as a stronger dollar and improving sentiment reduced safe-haven demand.
📊 Equities
US markets were mixed overnight as investors continued to rotate out of parts of the technology sector amid ongoing valuation concerns. The Dow Jones edged higher, while the S&P 500 and Nasdaq both finished lower as profit-taking weighed on sentiment.
🛢️ Oil
Oil prices fell heavily as traffic through the Strait of Hormuz continued to normalise, easing concerns around potential supply disruptions.
🥇 Gold
Gold extended its recent decline, breaking below the $4,000 per ounce level for the first time this year as a stronger dollar and improving market sentiment reduced demand for safe-haven assets.
💵 FX & Bonds
Treasury yields moved sharply lower as easing tensions in the Middle East boosted risk appetite and reduced demand for defensive positioning. Despite the decline in yields, the US dollar continued to strengthen against the major currencies ahead of a busy round of economic data due later today.
📌 Today’s Focus
Attention now turns to a busy trading day ahead, with Australian employment data due during the Asian session, followed by US Core PCE inflation, Final GDP and Weekly Unemployment Claims data in the US session.
🔹 US – President Trump Speaks
🔹 Australia – Employment Data
🔹 US – Core PCE Price Index Data
🔹 US – Final GDP Data