The US Government shut-down, which is likely to be over almost before it starts, will likely prevent the release of the important Non-Farm Payroll number this Friday. This changes the focus of US economic data impact for the week, although the ADP Report showed continued weakness in the US labour market. The impact of AI on industry and markets is becoming more widespread, as analysts begin to focus on software companies, which may well be devastated by AI. This was reflected in continued price action, of major software companies, across the globe. The collapse in crypto’s continues, with major losses in Bitcoin and the flow on all the way down the line. The US Dollar has gained some ground, with the EUR trading under 1.1800, while the GBP drifted below 1.3650.The rising reserve took toll on commodity currencies, with the AUD falling below 0.7000, while the NZD crashed below 0.6000. The poor performance of the KIWI was aided by the Unemployment number released yesterday. The headline number jumped to 5.4%, higher than expected, and not welcomed by international markets. There will be interest in Australian trade data, set to be released today.
