The Australian dollar reached parity with the Canadian dollar for the first time in more than eight years, standing out as the main market move in early trading. Wall Street futures were little changed, while European stock futures rose modestly and Asian stocks lost momentum after five consecutive sessions of gains. Investor interest is also focused on AI-related demand, including Meta’s Muse and Google’s CC agent, as well as SoftBank’s debt offering of more than $10 billion, which reportedly drew over $20 billion of demand. The transaction could rank among the largest junk bond deals and serve as an indicator of lender confidence in the AI sector, while competing with government debt for investor funds. Ten-year Treasury futures rose 6 ticks, while Brent crude remained below $100 a barrel as Saudi Arabia reportedly restored flows through its East-West pipeline faster than expected. Tehran said it had engaged with the United States through a Qatari mediator in New York over conditions for reopening the Strait of Hormuz, though most conditions had previously been rejected. President Trump said at the United Nations that talks had progressed but also threatened to annihilate Iran. Iranian President Masoud Pezeshkian was due to address the UN General Assembly later in the day, amid reports he might meet Trump. Chinese President Xi Jinping was scheduled to arrive in Washington, with speculation that a U.S.-China trade truce could be extended and that the countries might cooperate on AI. Markets were also watching September flash purchasing managers’ indexes from Europe, the UK and the U.S., alongside remarks from Federal Reserve Governor Michael Barr, ECB Supervisory Board member Pedro Machado, ECB Board member Piero Cipollone, ECB chief economist Philip Lane and ECB Vice President Boris Vujcic.