A case of déjà vu in markets today? Or at least it seems to be a familiar undertone as we head towards European trading.
The dollar is slightly firmer, equities are leaning softer and bond yields are ticking higher so far on the day. But as a reminder, all of that turned around by the time we got to the closing stages yesterday.
US stock indices were down roughly 1% before storming back with the S&P 500 and Nasdaq both sealing gains of 0.9% while the Dow finished up by 0.8%. Meanwhile, the dollar lost some ground by the end of it all with GBP/USD most impressively pulling from 1.2485 to finish near 1.2600.
There's still a push and pull ongoing and we're yet to settle the score it feels like, so expect that to play out once again today. Here's a look at markets before laying out the agenda in Europe.
- USD/JPY 133.05 (+0.4%)
- EUR/USD 1.0679 (-0.2%)
- GBP/USD 1.2563 (-0.2%)
- AUD/USD 0.7198 (-0.4%)
- Nikkei 28,188 (+0.9%)
- Hang Seng 21,892 (+1.7%)
- S&P 500 futures 4,142 (-0.4%)
- US 10-year Treasury yields 3.00% (+3.3 bps)
- Gold 1,846.16 (-0.3%)
- WTI crude $119.72 (+0.3%)
- Brent crude $120.77 (+0.2%)
0545 GMT - Switzerland May unemployment rate
0600 GMT - Germany April industrial output
0600 GMT - UK May Halifax house prices
0645 GMT - France April trade balance
0830 GMT - UK May construction PMI
0900 GMT - Eurozone Q1 final GDP figures
1100 GMT - US MBA mortgage applications w.e. 3 June
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
