Markets are more preoccupied with the outcome of the US-China trade talks this week.
US equities felt the heat on Friday with news that the Trump administration was looking at new ways of limiting investment in China.
The markets reacted positively to indications from President Trump that a trade deal with China could be close.
RBA Governor Philip Lowe is talking in Armidale later today.
Oil prices fell sharply on news Saudi oil production will be back in full by the end of the month.
Bond yields have paved down across the world, driven by a sell-off in German bunds.
The US dollar is weaker today on the back of positive developments in other parts of the world.
Boris Johnson stood outside No. 10 Downing Street earlier, saying he didn’t want an election before the Brexit deadline.
UK politics has turned even more toxic with Prime Minister Boris Johnson suspending parliament from September 12, for five weeks.
The markets have done a complete u-turn overnight on the back of positive news on the US China trade talks and some wins from the G7 summit, including proposals to reform WTO rules and a potential US Iran meeting.
The surprise news on Friday were reports that the German government might relax some of its spending rules to splash out and prevent a recession.
An ECB Governing Council member suggests markets hadn’t priced in the extent of the stimulus measures coming next month.
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