US-Led Coalition Targets Global Factory Overcapacity 
US Dollar Rises for Fourth Week as Fed Rate Hike Bets Grow 
Oil Prices Trim Gains After Trump Rules Out Iran Strikes Before Midterms 
France to Release 10 Million Barrels of Diesel to Ease Fuel Prices 
Gold Prices Rise as Dollar Weakens, Treasury Yields Fall 
Dollar Near 18-Month High as Euro, Yen and Pound Weaken 
Oil Prices Rise as Gulf Hurricane and Middle East Supply Risks Mount 
Wall Street Falls as Oil Prices Rise and Tech Stocks Slide 
Add as a preferred source on Google
Australian government bonds plunged during Asian trading session Monday amid a muted trading session that witnessed data of little economic significance, ahead of the Reserve Bank of Australia’s (RBA) May monetary policy meeting minutes, scheduled to be released on May 21 by 01:30GMT.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 4 basis points to 1.689 percent, the yield on the long-term 30-year bond also surged nearly 4 basis points to 2.331 percent and the yield on short-term 2-year traded nearly 3-1/2 basis points higher at 1.266 percent by 04:50GMT.
The USD finished the week strongly. AUD/USD opened higher following the weekend’s election result however this is unlikely to be sustained as domestic interest rate risks remain to the downside, ANZ Research reported.
The Treasury curve flattened slightly after positive data on consumer sentiment. Locally, all focus will be on Tuesday’s RBA communications, with Governor Lowe talking and the May meeting minutes out, the report added.
Meanwhile, the S&P/ASX 200 index jumped 1.70 percent to trade at 6,479.5 by 04:55GMT, while at 04:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at -50.19 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
