US equity markets retreated overnight as investors took profits in technology stocks, dragging the Nasdaq down 2.21% to 25,587 and the S&P 500 lower by 1.44% to 7,365. The Dow Jones proved more resilient, easing just 0.09% to 51,666. The US dollar continued its advance, climbing 0.34% to 101.37 and reaching its highest level in 13 months. Oil extended its recent decline as shipping through the Strait of Hormuz continued to normalise, and gold slid 1.96% to $4,108.35 per ounce on the stronger dollar. Today’s focus turns to Australian CPI data.
📊 Equities
US equity markets retreated overnight as investors took profits in technology stocks, weighing heavily on broader market sentiment. The Nasdaq led losses, falling 2.21% to close at 25,587, while the S&P 500 dropped 1.44% to 7,365. The Dow Jones proved more resilient, easing just 0.09% to finish at 51,666.
🛢️ Oil
Oil prices extended their recent decline as traders focused on increasing shipping volumes through the Strait of Hormuz.
🥇 Gold
Gold came under pressure from the stronger US dollar, sliding 1.96% to $4,108.35 per ounce.
💵 FX & Bonds
Despite the softer tone in equities, the US dollar continued its recent advance, climbing 0.34% to 101.37 and reaching its highest level in 13 months. Treasury yields edged lower, with the 2-year yield falling 2.7 basis points to 4.199% and the 10-year yield slipping 1.2 basis points to 4.497%.
📌 Today’s Focus
Today’s focus turns to Australian CPI inflation data, which is expected to provide important guidance on the Reserve Bank of Australia’s policy outlook.
🔹 AU – Australia CPI Data