Markets rallied strongly into the weekend on Friday after Fed Chair Jerome Powell signalled the start of the Fed’s easing cycle when he spoke from Jackson Hole. The major indices all rallied over 1% while yields and the dollar took further hits with the dollar index hitting levels not seen since July 2023.
Oil and Gold markets rallied strongly on the back of the weaker dollar, with Gold once again trading near all-time record levels.
Traders are expecting global markets to see some volatility on the Monday morning open in Asia as conflict and tensions in the Middle East have risen over the weekend with haven trades likely to be a focus alongside Oil and Gold.
There are mainly just tier 2 data releases scheduled on the event calendar across the trading sessions and investors will be hoping that the positive sentiment from the US session on Friday will maintain its momentum as the day progresses.
| Market | Change | Close |
| Dow | +1.14% | 41,175 |
| S&P | +1.15% | 5,634 |
| Nasdaq | +1.47% | 17,877 |
| USD | -0.73% | 100.72 |
| US Treasury – 2 Year | -9.7 bps | 3.913% |
| US Treasury – 10 Year | -5.9 bps | 3.803% |
| Oil – Brent | +2.33% | $79.02 |
| Oil – WTI | +2.49% | $74.83 |
| Gold | +1.1% | $2,510 |
Today’s Events (AEST):
European Session
- 6.00 pm – German Ifo Business Climate Data
- UK – Bank Holiday
US Session
- 10.30 pm – US – Durable Goods Data
