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All three major US indexes ended with a 0.2% gain, while in Europe, the Euro Stoxx 50 rose by 0.7%, and the FTSE 100 fell by 0.4%. The yield on the US 10-year dropped by 3 bps to 3.88%.
The University of Michigan consumer sentiment showed strength for the first time since March, boosting interest in risk assets. Goldman Sachs reduced their estimate of a US recession in the next year from 25% to 20%, citing positive retail sales and jobless data. If September payrolls are strong, they may lower this probability further.
Overall, the USD weakened during Friday night’s trading session, with bond yields slightly down and stocks generally moving higher.
Key global events this week include US Fed Chair Powell’s speech at Jackson Hole on Friday, which is expected to set the stage for a September rate cut, and preliminary PMIs for Europe.
Mid market rates.
| Currency Pair | Mid-market rate |
| AUD/USD | 0.6673 |
| AUD/NZD | 1.1015 |
| AUD/JPY | 98.72 |
| AUD/CNY | 4.7904 |
| AUD/EUR | 0.6052 |
| AUD/GBP | 0.5155 |
AUD/USD 24 Hour
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