Markets Overview

  • ASX SPI 200 futures down 0.2% to 8,967.00
  • S&P 500 up 2.5% to 6,782.81
  • Dow Average up 2.8% to 47,909.92
  • Aussie up 1.0% to 0.7044 per US$
  • US 10-year yield little changed at 4.2911%
  • Australia 3-year bond yield fell 11 bps to 4.55%
  • Australia 10-year bond yield fell 13 bps to 4.86%
  • Gold spot up 0.3% to $4,719.03
  • Brent futures down 11.8% to $96.35/bbl

Economic Events

  • 10:30: (AU) Australia to Sell A$1 Billion 105-Day Bills on April 9
  • 10:30: (AU) Australia to Sell A$1 Billion 77-Day Bills on April 9
  • 11:00: (AU) Australia to Sell A$150 Million 0.25% 2032 Linkers on April 9
  • 16:30: (AU) March Foreign Reserves, prior A$105.8b

US equity futures wavered in early Asian trading after Tehran said a number of clauses of its ceasefire deal with the US have been violated. Oil futures rose.

The cautious opening on Thursday came after Iranian Parliament Speaker Mohammad-Bagher Ghaliba said that three clauses of the ceasefire proposal have been contravened so far. Equity index futures for Asian markets were mixed after US shares had rallied Wednesday on optimism that a deal between the US and Iran had been reached.

The White House announced the US would hold direct talks with Iran even as continued fighting in the Middle East, punctuated by Israeli strikes in Lebanon, threatened to derail the fragile ceasefire in the six-week conflict.

Equity index futures for Japan and mainland China gained, after gains on Wall Street lifted the S&P 500 Index by 2.5% and the Nasdaq 100 2.9% on Wednesday. A gauge of US-listed Chinese companies climbed 3.1%.

In Asia, data set for release includes consumer confidence in Thailand and machine tool orders in Japan. A ¥3.8 trillion sale of of six-month bills is also slated for Japan. Markets are closed in the Philippines.

US stocks had jumped on Wednesday after the US-Iran ceasefire deal spurred a wave of optimism through global financial markets.

US crude settled below $95, easing concern about an energy crisis and reviving bets the Federal Reserve will cut interest rates in 2026.

“The ceasefire is a clear positive, but it’s not a resolution,” said Mark Hackett at Nationwide. “What stands out is how quickly the market flipped once the pressure eased. When positioning gets this crowded, it doesn’t take much to spark a reversal.”

From an economic standpoint, minutes of the Fed’s March policy meeting published Wednesday showed most officials worried a protracted war could hurt the jobs market and warrant lower rates. Meantime, many policymakers highlighted the risk to inflation.

“These minutes are very backward looking,” said David Russell at TradeStation. “Relief in the oil market removes inflation as a meaningful risk for now.”