Soft jobs data sparked a market rotation with stocks, metals, and small caps rising as falling yields fueled doubts over the Fed’s rate-cut timing and impact.

News that Prime Minister Ishiba will resign weighed on the yen initially early today, and lifted the dollar to almost JPY148.60, slightly above the pre-weekend/pre-US jobs data high) amid the uncertainty.

Forex markets continue to be very quiet, but the Australian Dollar is showing a little activity, so it might be wise to trade here today.

Recession talk is resurfacing after last week’s weak jobs print (22k vs. 75k expected) and the unemployment rate ticking up to 4.3%, which was in line with forecasts.

The S&P 500 experienced another week of mostly sideways action.

Gold held near historic levels on Monday, trading around 3,590 USD per ounce, bolstered by a softer-than-expected US labor market report for August.

Crypto market found support from a technical point of view and from an Elliott wave perspective, which may cause a larger recovery in the upcoming days.