Global markets started the week on the back foot as US equities fell and Treasury yields continued to climb, with the benchmark 10-year yield reaching a fresh 19-year high. Sentiment deteriorated after President Trump rejected Iran’s latest proposal, reducing optimism around a potential Middle East peace agreement. The US dollar strengthened broadly amid elevated volatility, though it eased against the Japanese yen following renewed official commentary. Oil prices extended their gains on supply-disruption concerns, while gold fell more than 4% under pressure from higher US yields and a stronger dollar. Attention now turns to the RBA rate decision, US labour-market data and consumer-confidence figures.
📊 Equities
Global markets started the week on the back foot, with US equities finishing lower as optimism surrounding a potential Middle East peace agreement faded after President Trump rejected Iran’s latest proposal. The Dow, S&P 500 and Nasdaq fell 0.67%, 0.77% and 0.92% respectively.
🛢️ Oil
Oil prices extended their gains as traders continued to price in potential supply disruptions. Brent crude rose 1.78%, while WTI added 0.21%.
🥇 Gold
Gold came under significant pressure from the combined impact of higher US Treasury yields and a stronger US dollar, falling 4.01% to $4,114.27.
💵 FX & Bonds
Rising Treasury yields remained a key driver of sentiment, with the benchmark 10-year yield climbing to a fresh 19-year high. The US dollar strengthened broadly amid heightened volatility, although it eased against the Japanese yen following renewed official commentary aimed at supporting the currency.
| Market | Change | Close |
|---|---|---|
| Dow | -0.67% | 51,481 |
| S&P 500 | -0.77% | 7,683 |
| Nasdaq | -0.92% | 26,820 |
| USD | +0.16% | 101.20 |
| US Treasury – 2 Year | +7.9 bps | 4.931% |
| US Treasury – 10 Year | +7.6 bps | 5.236% |
| Oil – Brent | +1.78% | $106.18 |
| Oil – WTI | +0.21% | $92.60 |
| Gold | -4.01% | $4,114.27 |
📌 Today’s Focus
Attention now turns to a busy macroeconomic calendar, highlighted by the Reserve Bank of Australia’s interest-rate decision, US labour-market data and consumer-confidence figures. Geopolitical developments are also expected to remain a key influence on market sentiment throughout the trading day.
🔹 Asian Session – 2.30 pm – Australia – RBA Interest Rate Decision
🔹 Asian Session – 3.30 pm – Australia – RBA Press Conference
🔹 European Session – 9.00 pm – EU – ECB President Christine Lagarde Speaks
🔹 US Session – 10.30 pm – Canada – GDP Data
🔹 US Session – 12.00 am – US – JOLTS Job Openings Data
🔹 US Session – 12.00 am – US – CB Consumer Confidence Data