Global Themes

USD weaker as bond yields resume fall

The greenback drifted lower from two-year highs overnight.

The pair was pressured by a weaker US dollar, which was hit by a resumption of falls in US bond yields.

US sharemarkets were also lower.

Aussie inches higher after RBA signals “hold”

The AUD was higher yesterday after the Reserve Bank of Australia signalled they were currently “on hold” with the RBA keen to see how its June and July back-to-back cuts impact on the Australian economy.

The RBA said it was “appropriate to assess developments in the global and domestic economies before considering further change in the setting of monetary policy”.

Trump says “cut”

Tonight’s focus is on the US Federal Reserve minutes with markets looking for guidance about the Fed’s next move.

This week, US President Donald Trump said the Fed needs to cut interest rates by 100 basis points “over a fairly short period of time”.

We’ll get further news from the global central bankers with the Jackson Hole Symposium due later this week.