MARKET UPDATE 05-Oct-18

The US dollar stayed near recent highs as investors evaluated the impact of a global government bond retreat. On Wall Street, stocks closed lower as a recent jump by US treasury yields raised concern about the outlook for interest rates. With the ten year yield reaching its highest levels in over 7 years. Traders now seem worried the Federal Reserve may raise rates more aggressively than anticipated.

However, Investors are expected to really scrutinize the U.S. government’s September payroll report scheduled for later tonight, for signs of wage growth, especially in light of sketchy indications of rising wages.

Meanwhile, in Australia. The consumption, as represented by the seasonally adjusted estimate of retail sales, rose 0.3 percent in August. This had some impact on the Aussie’s performance during the day.

FX Rates 05.10.18

 

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