U.S. stocks declined yesterday as weak Chinese trade data fuelled concerns about slowing global growth. The 10-year Treasury yield traded little changed at 2.70 percent, while the greenback fell against most major currencies.
Closer to home, Aussie dollar has barely moved in response to China stimulus talk. However, it continues to report gains amid risk-on action in the equities.
There are two macro events that continue to weigh on market sentiments. The first being concerns over global growth path. Secondly, the persistence of the U.S. government shutdown and how that changes our perspective about what happens next.
The week ahead is full of event risks and Fed speakers, with Brexit vote making top of the agenda. So we can expect some volatility around trade over the week.