U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
Australian government bonds slumped across the curve on Monday following better-than-expected April retail sales data, pushing the 10-year yield to 1-week high. Also, heavy sell-off in the U.S. Treasuries pressurized the world’s 11th largest economy’s debt market.
The yield on Australia’s benchmark 10-year Note, which moves inversely to its price, rose 4-1/2 basis points to 2.731 percent, the yield on the long-term 30-year Note jumped 2 basis points to 3.240 percent and the yield on short-term 2-year up 5-1/2 basis points to 2.054 percent by 03:00GMT.
According to the Australian Bureau of Statistics (ABS), sales rose by 0.4 percent to $26.56 billion in seasonally adjusted terms, topping forecasts for an increase of 0.3 percent. The result was an improvement on March when retail sales were flat.
In the United States, Treasuries found downward pressure to finish off the week, amidst a much calmer Friday session as markets absorbed the better than expected May employment report and further digested news of political stability returning to Italy. With respect to data, markets were clearly receptive to the 223K increase in non-farm payrolls, alongside a decrease in the headline unemployment rate to 3.8 percent, lowest since April 2000.
With respect to inflation, hawks were once again handed more ammunition with average hourly earnings increasing +0.3 percent, pointing to resumed wage pressures currently making their way through the labour market. Markets now look ahead to a lighter flow of data in the week ahead, largely highlighted by April trade balance data on Thursday.
Meanwhile, the S&P/ASX 200 index traded 0.07 percent higher at 6,033.5 by 03:15 GMT, while at 03:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at 12.62 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
