Equities stay upbeat ahead of big tech earningsUSD/JPY struggles with what to make do of US-Japan trade dealJapan bond yields jump higher on trade deal with the USJapan PM Ishiba refutes reports about his resignationTraders ramp up bets on a BoJ rate hike by the end of the yearIshiba's last ditch attempt?US Bessent: Trump has said he's not going to fire PowellUS Bessent: Talks with the EU are going better than they had beenEU trade commissioner Sefcovic set to speak to US commerce secretary Lutnick later todayEU's von der Leyen: EU and Japan to work more closely to address unfair tradeUS MBA mortgage applications w.e. 18 July +0.8% vs -10.0% prior
Markets:
NZD leads, EUR lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields up 2.8 bps to 4.363%Gold down 0.1% to $3,428.82WTI crude down 0.7% to $64.87Bitcoin down 1.0% to $118,578Japan prime minister Ishiba managed to secure a trade deal with the US in a last ditch attempt to stave off political pressures but his fate might already be sealed. He offered concessions on agriculture and that might be a sticking point in trying to bring home the deal back in parliament. So, we'll see.
Japan's Nikkei 225 index rallied by 3.5% and that helped to keep the mood in Europe upbeat. Major indices in the region are all higher with French stocks leading the charge with over 1% gains. The DAX is also seen up 0.6% as European equities pare losses from the first two days this week.
In FX, the dollar is sitting more mixed as traders are digesting the trade news. USD/JPY is being sent for a ride with the pair rising to 147.20 early on in the day before falling back now to 146.20, down 0.3%. Traders seem to be skeptical at first of the deal, with worries mounting on the political scene back in Tokyo.
Meanwhile, EUR/USD is down 0.2% to 1.1725 while USD/CAD is down 0.2% to 1.3578. It is the commodity currencies that are running higher amid the better risk mood though, with AUD/USD up 0.7% to 0.6600 - its highest since November last year.
In the commodities space, gold is down marginally as it cools a little after the jump higher yesterday. Meanwhile, Bitcoin and Ethereum are also taking a breather as cryptocurrencies continue to hang at the highs following the surging run last week.
This article was written by Justin Low at investinglive.com.Hence then, the article about investinglive european markets wrap stocks upbeat on us japan deal currencies mixed was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( investingLive European markets wrap: Stocks upbeat on US-Japan deal, currencies mixed )
Also on site :