GVI – market mood and themes:
in his expert wisdom waller said earlier that any rate cut be needing to wait for the inflation “bump” to fade (booowa-hahaha, tks waller for the laugh); in the meantime players are chewing over tariff risks (consequences do not appear all that clear as some economists / pundits with hair on fire scream) so
Bottom Line
is that FX likely to remain tame until something comes out clearer to stirr bonds
US Open
US equity futures firmer, crude and gold remain underpinned by geopolitics, despite a firmer USD
Good morning USA traders, hope your day is off to a great start! Here are the top 4 things you need to know for today’s market.
4 Things You Need to Know
European bourses are mixed with price action choppy; US futures gain a touch awaiting geopolitical updates as US and Russia begin Ukraine peace talks.
USD is broadly firmer vs. peers, AUD bucks the trend after the RBA delivered a cautious cut.
Gilts underperform on wage data though Bailey has pared some of this, EU joint issuance in focus.
Crude and gold remain underpinned by geopolitics despite the firmer Dollar.
A look at the day ahead in U.S. and global markets from Mike Dolan
Europe’s defence stocks (.SXPARO), opens new tab, up almost 20% for the year so far, surged another 1% on Tuesday as U.S. officials met Russian counterparts in Saudi Arabia for talks about ending the war in Ukraine and Germany prepared to go to the polls this weekend.
U.S. markets were closed on Monday for the President’s Day holiday and are set to return in relatively buoyant mood, with stock futures firmer near record highs even with Treasury yields and the dollar ticking back higher again.
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