Treasury yields today pushed the US 10 year above 5.2% and the 30 year to its highest since 2004, Trump rejected Iran\'s proposal to reopen the Strait of Hormuz, and the RBA\'s fourth rate hike failed to lift the Australian Dollar off nine week lows.
Xi Jinping arrived in Washington for a summit with Donald Trump as Treasury Secretary Scott Bessent confirmed an extended US and China trade truce through January 10, while Iran\'s president used his UN address to hold firm on the Strait of Hormuz and stronger US data revived bets on another Fed rate hike.
Ukraine\'s largest drone strike of the war hit a Moscow oil refinery, the US and Denmark signed off on a new Greenland security deal, and Iran\'s president arrived in New York for UN talks, as traders weigh what these geopolitical events could mean for gold, forex, oil and indices today.
Canada\'s retaliatory tariffs are set to take effect September 8 unless Washington and Ottawa reach a resolution, a deadline with direct implications for USD/CAD, gold, the S&P 500 and WTI crude.
