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AUSSIE 10-YEAR TECHS

(H1) Fragile Outlook

US TSYS SUMMARY

Curve Lower, Flatter as Yields Reverse Off Cycle Highs

US TSY/RECAP

Yield Curve Update

STIR FUTURES

Eurodollars Futures Snapshot

USDCAD TECHS

Consolidating

AUDUSD TECHS

Probes Key Support

FOREX
FOREX: Trump trade ire raises fear of material market fallout
-Global equity markets took a sharp leg lower Friday, with most major indices
across mainland Europe and the US shedding over 1%. In tandem, the US treasury
curve flattened, with the 1y10y spread inverting further and sapping strength
from the USD. This left JPY at the top of the pile, with USD/JPY extending
losses below Y109. A spate of USD selling ahead of the month-end fix, however,
managed to spare the likes of EUR/USD and GBP/USD from further losses.
-EMFX had a patchy session, with the MXN suffering its worst session of the year
as Trump turned up the tariff pressure, while BRL outperformed with some citing
a crunch in a market caught short BRL/MXN. Positive headlines also crossed on
Brazilian pension reform, prompting USD/BRL to show below the 50-dma. Poorer
global trade sentiment also sent waves through commodity markets, denting WTI
and Brent crude futures to the tune of 3%, pressing CAD closer to the year's
lows against the USD.
-Next week, attention turns to US and Canadian jobs reports, China's Caixin PMI
numbers, Eurozone CPI data and rate decisions from the ECB and the RBA.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com