Equities in the red, USD bid & GBP lags as Gilts extend gain; Fed’s Powell due
- European bourses post modest losses whilst the NQ & ES teeter around the unchanged mark, RTY lags slightly.
- Bonds extended gains with Gilts outpacing counterparts though ultimately fell short of 96.00 level, with the complex now off best levels & USTs lower.
- USD bid with the index printing a 105.87 high, putting downward pressure on G10 peers; GBP bearing the brunt & largely attributed to outperformance in Gilts.
- Crude continues to crumble but has lifted from lows most recently amid a magnitude 5 earthquake in western Texas
- Looking ahead, highlights include US Wholesale Prices, NBP Policy Announcement; BoC Minutes, Speeches from Fed’s Powell, Williams, Barr & Jefferson; BoE’s Bailey; Supply from US. Earnings: Telecom Italia, Ralph Lauren, Kellogg, Disney, BlackRock, Warner Bros Discovery & Disney.
This article was written by Ryan Paisey at www.forexlive.com.
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