US Stock Futures Rise as Markets Await July Payrolls Data 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Asian Stocks Slip as AI Rally Fades, Oil Holds Steady on Iran Peace Deal Hopes 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
The Australian government bonds remained flat during Asian session Wednesday amid a muted trading day that witnessed data of little economic significance. However, U.S.-China trade tussle continues to draw headlines in the financial market ahead of Australia’s employment report for the month of October, scheduled to be released on November 14 by 00:30GMT.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, remained steady at 1.276 percent, the yield on the long-term 30-year bond also flat at 1.881 percent and the yield on short-term 2-year hovered around 0.861 percent by 04:20GMT.
In a speech to the Economic Club of New York overnight, US President Donald Trump said “If we don’t make a deal, we’re going to substantially raise those tariffs”, even as he added that “a significant phase one deal could happen…soon”, OCBC Treasury Research reported.
On balance, in terms of helping the market decipher the probability of a trade deal with China, the speech was short on substance, even though Trump’s threat to raise the tariffs in the case of no-deal has added to the binary nature of impact of the ongoing negotiations. Any deal looks likely to be involving a rollback of existing tariffs, the report added.
On the flip side, if he carries through with his latest threat, tariffs may be raised if the talks break down, OCBC further noted in the report.
Meanwhile, the S&P/ASX 200 index edged tad nearly 1 percent down at 6,704.50 by 04:30GMT.
