US equity markets finished modestly higher overnight, extending their run of record highs as investors balanced stronger labour market data against ongoing geopolitical uncertainty. Bond markets were mixed and currencies traded in narrow ranges as participants awaited fresh Gulf developments. Oil moved higher again on Strait of Hormuz concerns, while gold had another choppy session amid the tug-of-war between safe-haven demand and risk appetite. Today’s calendar includes Australian GDP, US ADP employment, ISM Services PMI, and remarks from Bank of Japan Governor Ueda.
📊 Equities
US equity markets finished modestly higher overnight, extending their run of record highs. Sentiment remained cautiously constructive, supported by stronger-than-expected labour market figures, although traders were reluctant to take aggressive positions while geopolitical uncertainty persists.
🛢️ Oil
Oil prices moved higher once again as traders remained focused on the security of shipping routes through the Strait of Hormuz. Concerns over potential supply disruptions continue to underpin crude as the situation in the Gulf remains unresolved.
🥇 Gold
Gold experienced another choppy session, reflecting the ongoing tug-of-war between safe-haven demand and broader risk appetite. With no clear directional catalyst, the precious metal continues to oscillate as bulls and bears remain evenly matched.
💵 FX & Bonds
Bond markets delivered a mixed performance, while currency markets traded within relatively narrow ranges as participants awaited fresh developments from the Gulf region. Investors continue to balance the potential economic implications of any escalation against the prospect of easing tensions, leaving many major asset classes in consolidation mode.
📌 Today’s Focus
Geopolitical headlines are likely to remain the primary driver of sentiment. Today’s calendar also has the potential to generate volatility, with Australian GDP due during the Asian session before attention shifts to US ADP employment and ISM Services PMI later tonight. Remarks from Bank of Japan Governor Ueda may also attract attention.
🔹 Australia GDP
🔹 Bank of Japan Governor Ueda Speaks
🔹 US ADP Non-Farm Employment Change
🔹 US ISM Services PMI