News Overnight
With Initial Jobless Claims and Nonfarm Payroll removed, traders didn’t know what to do so they didn’t do anything. Retail helped stock markets by the close and non-sovereign assets were yet again, the flavour of the day.
In Australia:
Exports Decline: Total goods exports dropped 7.8% MoM to approximately A$43.5 billion (estimated), with notable weakness in iron ore (-12% due to lower volumes and prices), coal (-5%), and natural gas (-3%). Key markets like China and Japan saw reduced shipments amid global economic slowdown concerns.
Imports Rise: Goods imports increased 2.6% to around A$41.7 billion, fueled by higher capital goods (machinery up 4%) and consumer goods (electronics up 3%), reflecting domestic demand recovery post-rate cuts by the Reserve Bank of Australia.
Services Trade: Not reported monthly; quarterly data from June 2025 showed a services surplus of A$5.2 billion, contributing to the overall goods-and-services balance.
Wall Street closes with records as tech support offsets labor, shutdown uncertainties [Reuters]
Breaking
Israeli military stops nearly all boats in aid flotilla, sparking global protests [Reuters]
Treasury Secretary Bessent says U.S. GDP could take a hit from the government shutdown [CNBC]
US government shutdown negative for credit rating, Europe’s Scope warns [Reuters]
For Free Subscribers
Bitcoin Update 3 October 2025
Price structure is now not negative, it’s neutral. Only a new all time high close above 123.3k pushes structure into positive territory.
For Paid Subscribers
Gold Update 3 October 2025
Market pauses to reassess price, bang - off goes Bitcoin. It’s fascinating to watch the cross-asset play between non-sovereign assets.
Economic Indicators Today
