Markets:

• AUD leads, EUR lags
• WTI crude oil up 37-cents to $73.04
• US bond market closed
• US equities closed
• Canada TSX Comp +0.3%
• Gold down $3 to $1942

It was a vacation within the US and UK so it was predictably quiet, particularly after Europe went residence.

Promoting the greenback was the primary theme all through the day, although it staged considerably of a comeback later. The principle strikes got here on the Asian open because the market reacted to the debt ceiling deal and bid up threat belongings.

There’s a number of discuss fading that transfer and we may see a few of that positioning creeping in as fairness futures and oil gave again some positive aspects.

In USD/JPY, I’d have thought we may see some upside given the raft of recent Treasury issuance coming but it surely slumped after a spot greater on the open earlier than discovering a ground at 104.12 in North American buying and selling and grinding 30-pips greater. Control bonds when US fastened earnings markets reopen.

USD/CAD moved throughout North American commerce (Canadian markets had been open) however the pair adopted a dip after which rebound in oil costs. The OPEC assembly is developing and the leaks have already began.

General, I would not take something away from buying and selling in a holiday-thinned market however there will probably be loads of fireworks to come back as we constructed in the direction of Friday’s non-farm payrolls report.