Markets:
Gold down $35 to $2916US 10-year yields down 10 bps to 4.29%WTI crude oil down $1.60 to $69.10S&P 500 down 0.5%EUR leads, CAD lagsOn Friday I outlined 8 things that are weighing on market sentiment and that continues to be the case. Today, soft US consumer confidence underscored fears that the spending is softening and that triggered a round of selling in equities, buying in bonds and softness in the US dollar. In addition, Congress seems to be stalled on the Trump tax cut plan, though we may get a vote later.
Tariffs continue to be a problem for the market but I was struck at how unworried Mexico's President was in her comments today. There was also some optimism about a Ukraine deal and I think it's fair at this point to fully price in an end to the war. The oil market certainly took a step in that direction today with WTI busting below $70, though I would argue the Russia oil is all making it to market.
The euro is at the intersection of a few trends right now. Peace is a tailwind and Schnabel continues her hawkish turn. At the same time, optimism about German spending has been a driven this week and Merz today said reforming the debt brake won't be done in the near-term and is 'complex' so that pours some cold water on that theme.
The yen continues to find a steady bid as the risk-off theme dominates. Warren Buffett was a tell on the weekend as he talked about continuing to buy Japanese assets while staying on the sidelines in the US. Technically, today's break of 149.00 worked its way down to 148.55, which is the lowest since October. It looks to close right at the figure though, which doesn't make for a clean break.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about forexlive americas fx news wrap us consumer confidence sinks drags down risk assets 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 ( Forexlive Americas FX news wrap: US consumer confidence sinks, drags down risk assets )
Also on site :
- UK to list 65-year-olds as reservists amid Russia threat claims – Telegraph
- AI boom fuels fears of an industry bubble (VIDEO)
- Scott Ritter say he was ‘de-banked’