Market News
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Australian Dollar outperforms risky peers despite weak Trade Balance data
The Australian Dollar (AUD) trades higher against its risky peers, but is down versus safe-haven peers during the European trading session on Thursday.
Global Bonds: Selloff deepens with rising term premia – BBH
Brown Brothers Harriman’s Elias Haddad highlights a deepening global bond market selloff driven by tighter expected policy paths and rising real term premia.
Oil: Prices hold near multi‑year highs – UOB
UOB Global Economics & Markets Research reports WTI crude settled at $90.42 per barrel and Brent at $103.53 per barrel on Wednesday, both extending strong year-to-date gains.
US Dollar: Stronger profile as policy supports flows – Societe Generale
Societe Generale’s Kit Juckes argues that recent US policy proposals around diesel exports and higher yields are reinforcing a stronger Dollar outlook. He notes that talking down the Dollar has failed since the Federal Reserve raised rates, and that capital inflows driven by higher US yields should keep supporting the Dollar, especially as Europe faces growth risks in a global energy crisis.
USD/JPY: Yen soft as intervention absent – UOB
UOB Global Economics & Markets Research highlights USD/JPY reversed intraday losses to close flat at 157.41. The Japanese Yen weakened after Ministry of Finance data confirmed no FX intervention between 27 August and 28 September, following July’s record coordinated US-Japan operation.
1.1265: Euro hits yearly lows amid high Oil prices, rising US yields and debt woes
The Euro (EUR) extends losses for the fourth consecutive day against the US Dollar (USD), reaching levels below 1.1300 for the first time since May 2025.
US Treasuries: Long-end selloff extends to multi-decade highs – Deutsche Bank
Deutsche Bank’s Jim Reid describes severe stress in US Treasuries, with 10-year and 30-year yields pushing to post-2000s highs despite dovish PCE revisions.
Gold: Upside capped by real yields – UOB
According to UOB Global Economics & Markets Research, Gold spot eased to close at $4,157 per ounce after earlier trading as high as $4,219. Elevated real yields continue to limit bullion’s upside, leaving Gold softer despite broader macro uncertainty and strong moves in other commodities. The report underscores how higher US yields are constraining precious metals.
EU trade: Strategic linkages and rare earths – Rabobank
RaboResearch Global Economics & Markets highlights how the European Union is reshaping trade policy, including linking market access for Thai canned tuna to EU-caught fish and forging a new partnership with Canada on firefighting and critical minerals.
US Dollar: Fed repricing and inflation data steer path – Deutsche Bank
Deutsche Bank’s Early Morning Reid notes that softer US PCE revisions reduced expectations for an October Fed hike, even as the Dollar Index edged higher.
Dow Jones futures decline as markets weigh on rising US yields
Dow Jones futures decline by 0.42% to trade near 51,060 during European hours on Thursday. Meanwhile, S&P 500 futures gain by 0.09% to trade around 7,720, while Nasdaq 100 futures rise 0.51% to trade near 30,850.
Central banks: Political economy pressures build – Rabobank
Rabobank’s RaboResearch Global Economics & Markets discusses rising political scrutiny of central banks. The report argues central banks are a key pillar of the political economy facing potential role changes.
Silver price today: Silver broadly unchanged, according to FXStreet data
Silver prices (XAG/USD) broadly unchanged on Thursday, according to FXStreet data. Silver trades at $60.48 per troy ounce, broadly unchanged 0.10% from the $60.42 it cost on Wednesday.