US markets were closed for the three-day Labour Weekend holiday. While many were monitoring the big international event, the Shanghai Cooperative Organisation summit. This is one of the big geo-political events of the year, where a lot of international trade agreements are signed and sealed. This year will be even bigger than usual, with major players attending, including China, India and Russia. This is a huge event and the outcomes will be substantial. The quiet US markets allowed currencies to settle, with the EUR trading 1.1700, while the GBP consolidated above 1.3500.Commodity currencies built on recent gains, with the AUD pushing up to 0.6550, while the NZD looks to regain 0.5900. International events will have flow on to Australasia, once details are released from the SCO. Markets will be watching US labour market releases during the week.
