ANZ
May 11, 2026
Australian Morning Focus
Daily UpdateCommoditiesEquitiesFXConsumer DiscretionaryEnergy
US labor markets showed resilience with an April payroll beat, yet consumer sentiment crashed to an all-time low. Geopolitical risks in the Middle East continue to drive oil price volatility and central bank gold buying.
Key Takeaways
- 1.US nonfarm payrolls surged by 115k in April, significantly exceeding the 65k expectation, suggesting a broadening of job gains beyond the 'eds and meds' sectors.
- 2.US consumer sentiment has plunged to its lowest level in 74 years, with the University of Michigan's May provisional index hitting 48.2.
- 3.Oil prices remain volatile as the US-Iran ceasefire is threatened by renewed clashes and Iranian attacks on the UAE's Fujairah oil facility.
Table of Contents
- Highlights
- Today (AEST)
- Global markets overview
- Data/event pulse
- Key themes and views
- Commodities
- Important Notice
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Authors
Sophia AngalaBrian MartinDaniel Hynes
Securities
S&P 500US 10y TreasuryAUDUSDBrent CrudeXAUAS51
Themes
Central Bank Gold AccumulationLabor Market DivergenceUS-Iran Geopolitical Tension
Regions
North AmericaAsia PacificMiddle EastAustraliaUnited StatesIran