- The AUD and NZD continues to lead the majors on the upside
- US sees limited scope for nuclear talks with China
- Equity futures putting in a solid run so far today
- Eurozone economic sentiment 96.6 vs 95.8 expected
- China's Xi says committed to stable relationship with US based on win-win cooperation
- Rate pricing for the ECB largely unchanged after the German statewide CPI data
- EURUSD trades back below 1.11 after German statewide CPI
- German Bayern YY 2.1% vs 2.5% prior
- Remy Cointreau Pernod Ricard shares surge 8% after China skips brandy tariffs
- China's Commerce Ministry opts against anti-dumping measures on EU brandy
- Riksbank's Bunge says economy is in a mild recession
- Spanish flash HICP YY 2.4% vs 2.5% expected
- What are the main events for today?
- Today's FX option expiry levels for the NY cut
- Swedish GDP YY 0.5% vs 0.0% expected
- Ukraine strikes oil and artillery depots in Rostov Kirov and Voronezh regions
- Japan consumer confidence index 36.7 vs 36.7 prior
- Risk sentiment leaning slightly positive head of the cash open
- NZDUSD tests close to 0.63 after earlier NZ data
- Finally a day with a bit more excitement on the calendar
Markets:
- NZD leads, EUR lags on the day
- European equities higher; S&P 500 futures up 0.18%
- US 10-year yields down 1 bps to 3.829%
- Gold up 0.75% to $2,522
- WTI crude up 0.32% to $74.76
- Bitcoin up 1.63% to $60,005
It was a more lively session today with some notable moves in the FX and equity markets. The EUR has been the most notable mover in the FX space as the single currency fell on soft German statewide CPI figures. Note though, that the market's pricing for ECB rates was unchanged.
In the equity space, we've seen the S&P 500 and the Nasdaq erasing most of yesterday's weakness although the lack of catalysts will likely keep the price action rangebound until next week.
Overall though, there wasn't any notable news release or development in the macro or geopolitical space and we keep waiting for next week where we will get many top-tier economic data including the NFP report.
The attention will now switch to the US jobless claims figures where we will likely need initial claims to spike above the 260K level to trigger a big market reaction.
