Geopolitics & Macro 🔥
US–Iran tensions are back in focus: Washington struck three Iranian oil tankers over the weekend, Tehran hit back and declared a new restricted zone beyond the Strait of Hormuz. Friday's blowout US jobs report also revived rare Fed rate-hike chatter ahead of next week's inflation data, keeping the dollar underpinned even as rising government-debt concerns cap the upside. 🇺🇸 US stock and bond markets are closed today for Labor Day, thinning liquidity across the board.
Forex 💱
💶 EUR/USD ~1.1610 – holding steady into Thursday's ECB decision, hike expectations support the euro
💷 GBP/USD ~1.3507 – sterling stays the weak link
💴 USD/JPY ~155.98 – capped near recent highs after last week's BOJ intervention
🇦🇺 AUD/USD ~0.7197 – hovering near multi-month highs on hawkish RBA bets
Commodities 🛢️🥇
Gold slid to ~$4,400 in early Asian trade as the strong NFP print lifts Fed hike odds, though it holds above its 100-day average. Brent climbs ~1% toward $97, WTI near $92 – both extending gains on Hormuz disruption fears.
Asian Markets 🌏
🇯🇵 Nikkei 225 +2%, above 66,300 – tech & AI names lead
🇰🇷 Kospi +3.9% – standout regional gainer
🇦🇺 ASX 200 – flat
🇭🇰 Hang Seng −1%, near 25,400 – rate-hike jitters weigh on tech
🇨🇳 CSI 300 +0.2%, Shanghai Composite little changed
⚠️ Key risk event: ECB rate decision Thursday, September 10.
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