Markets also focus on mounting US consumer leverage, with credit card debt reaching a record $1.3 trillion, while revised hiring data raises questions about economic momentum and the risk of recession.

In FX, the yuan’s steady strengthening reflects China’s gradual push for greater financial credibility rather than direct dollar displacement. Commodities remain volatile: gold reclaimed $5,000 on softer US inflation, oil trades below key resistance amid geopolitical risk, and crypto stays under pressure.

Overall, the theme is caution, currency strategy, labor trends, and credit growth are increasingly shaping market expectations.

Take a look at the file below for further analysis.