The AUD is trading lower today, but we continue to think that the currency offers value at the current levels. The main focus for the markets today will be the NFP and ISM Mfg PMI reports. A miss in either of these reports could be a bullish catalyst for the AUD.

The focus today will be on the US jobless claims and PCE data.

The US Dollar (DXY) fell sharply on Wednesday after the release of weak US labour market data.

Emotions are a powerful force that can have a significant impact on our decision-making. In trading, this can be especially dangerous, as emotions lead to rash decisions that can cost us money.

The main highlight of today’s session will be the Jackson Hole Symposium and the speeches for both Fed Chair Powell, and ECB President Lagarde.

The US Dollar and Treasury yields fell on Thursday after the release of weaker-than-expected US S&P Global Flash PMI data.

The markets are in a risk-off mood on Wednesday as concerns about the economic outlook mount. The euro and pound sterling find themselves under pressure, while the dollar is strengthening. Treasury yields are also pulling back after hitting a new cycle high.

Market sentiment put in a decent bounce on Monday, with the Nasdaq futures continuing to grind higher (+0.40% at the time of writing). This is surprising given that US 10-year Treasury yields hit a new cycle high yesterday, and higher yields have been a key driver of recent negative risk sentiment.

As we look to the coming week, China’s challenges persist. The future of the dollar’s rally is uncertain, and upcoming Flash PMI data will offer insights into global economic health.

The economic calendar is light today, with only US jobless claims and the Philadelphia Fed business index data scheduled for realase. However, even these minor data releases could have a big impact on the markets, given the current volatility.

Today’s economic calendar is light, with only US building permits and housing starts scheduled for release.

UK jobs data released today showed a surprise increase in wages, which boosted the odds of another 25 basis point rate hike by the Bank of England (BoE) to 90%.