Market wrap: quiet start to the week - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: The overnight session was quiet, with little major news to drive markets. The S&P500 is up 0.3%, Brent crude is down 1.1%, and interest rates are slightly higher.

Interest rates: US 10yr treasury yields rose from 1.56% to 1.60%, while 2yr yields ranged between 0.67% and 0.70%. Market pricing of the Fed funds rate slipped, implying a 20% chance of a rate hike in September, a 50% chance by December, and 100% by Nov 2017.

Currencies:  The US dollar index is little changed, sitting near the top of a month-old range. EUR firmed slightly, from 1.1040 to 1.1084. GBP outperformed, rising from 1.3215 to 1.3315 after BOE member Weale said there was no rush to cut rates. Safe-haven yen underperformed, USD/JPY rising from 105.25 to 106.26. AUD tracked sideways between 0.7575 and 0.7607. NZD also ranged, between 0.7090 and 0.7116. AUD/NZD ranged between 1.0665 and 1.0700."