Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
Japan, U.S. Discuss Yen Weakness as Currency Intervention Concerns Grow 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Gold Price Rises as Investors Weigh U.S.-Iran Talks and Fed Policy Outlook 
The Australian bonds slumped during early Asian trading Thursday, tracing its U.S. counterpart after yields rose on Wednesday as a congressional fiscal plan that includes a three-month suspension of the debt ceiling gained support from President Donald Trump, reducing safe-haven demand among investors worried about a short-term default. However, investors have largely shrugged off the fall in retail sales for the month of July.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, jumped nearly 5-1/2 basis points to 2.65 percent, the yield on the 15-year note climbed nearly 5 basis points to 2.95 percent and the yield on short-term 2-year also traded nearly 5 basis points higher at 1.88 percent by 03:05GMT.
Investors have been concerned that a potential block on the Treasury's ability to sell more debt could result in a partial government shutdown or even a default that could roil financial markets. Investors had dumped Treasury bills that mature in October on worries the government would delay repaying them if the debt ceiling were not increased in time.
The proposal from top Congressional Democrats also seeks to fund the government to avert a shutdown as well as programs aimed to help those affected by Hurricane Harvey.
On the contrary, after a run of stronger than expected monthly releases, Australia’s retail sales disappointed in July, with flat sales in the month and a downward revision to June (from 0.3 percent m/m to 0.2 percent m/m). July’s flat result is soft compared to an average rise of 0.6 percent m/m through Q2 and sets a soft base for sales in Q3. In annual terms, retail sales slipped to 3.6 y/y, from 3.7 percent y/y in June. In three-month end annualized terms, retail sales growth has fallen to 3.2 percent from 7.5 percent in June.
Meanwhile, the S&P/ASX 200 index rose 0.18 percent to 5,697.50 by 03:20 GMT, while at 03:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at -64.78 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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