That's me done for another day.
Pre-Wall St Open Summary via Newsquawk
- European bourses are under modest pressure as sentiment broadly takes a slight turn for the worst amid limited newsflow as participants look to Friday's NFP.
- USD benefits from the mentioned risk tone, with the DXY extending to a 111.35 peak to the modest detriment of peers; though EUR is relatively resilient.
- Gilts are once again the standout laggard following rating agency action and the BoE DMP showing inflation pressures were already elevated MM before the fiscal update.
- Crude benchmarks are now modestly firmer, extending marginally above yesterday’s best levels with fresh newsflow limited as participants digest yesterday’s OPEC+ action.
- Softer sentiment has led strength to the USD, to the detriment of metals with spot gold once again capped by the 50-DMA at USD 1722/oz.
- The EU has approved the 8th round of Russian sanctions, as expected. While N. Korea fired missiles and bombers/jets have been seen.
- ECB Minutes: Inflation Far Too High, Likely To Stay Above Target For An Extended Period
- US Challenger Layoffs: 29.989k (Previous 20.485k)
- BoE: Move in gilt yields last week threatened to exceed size of cushion for many LDI funds
- Eurozone Retail Sales YoY: -2% (Forecast -1.7%, Previous -0.9%)
- UK business inflation expectations rise in September - BoE
- UK S&P Construction PMI: 52.3 (Forecast 48, Previous 49.2)
- The @NatGasWeather Daily Report
- Eurozone S&P Construction PMI: 45.3 (Previous 44.2)
- Spain's August industrial output rises 5.5% vs 5.4% in July
- German Industrial Orders MoM: -2.4% (Forecast -0.7%, Previous -1.1%)
- The @Newsquawk Market Open: Mixed trade as Wall St rally stalled, crude retains OPEC gains
