Headlines:
US inflation data to set the tone for markets this weekGold eases to start the week, traders await US tariffs clarificationOf soybeans and trade dealsItaly July final HICP +1.7% vs +1.7% preliminarySNB total sight deposits w.e. 8 August CHF 465.9 bn vs CHF 468.5 bn priorBofA FMS: Trade war remains biggest tail risk (29%) followed by inflation (27%)Citi’s top options strategist warns! ‘Downside to equity markets over the next 3 months’Citi bumps up S&P 500 year-end target to 6,600Markets:
It was a quiet session for the most part with markets reserving some caution ahead of the US CPI report tomorrow. That's the main event for the week, so traders and investors are not having much to work with in the lead up to that.
In FX, the dollar is keeping steadier across the board even as it keeps more vulnerable after the declines last week. Major currencies lacked appetite, with the broader risk mood also keeping more tentative at best.
EUR/USD is down 0.1% to 1.1625 while GBP/USD is down 0.2% to 1.3425 on the day. Meanwhile, USD/JPY is up 0.1% to 147.88 with USD/CAD up just 0.2% to 1.3780 currently. The antipodes are a little lower but nothing too outstanding with AUD/USD down 0.2% to 0.6508 and NZD/USD down 0.5% to 0.5930 with large option expiries pulling down the latter.
In the equities space, it's all quiet with European indices looking sluggish and US futures also keeping little changed for the most part. It's all going to ride on the US inflation numbers tomorrow for Wall Street.
As for other markets, we saw cryptocurrencies got off to a hot start after the run higher during the weekend. Ethereum touched $4,300 levels with Bitcoin also hitting above $121,000 in early trading. That is now fizzling a little bit but both are still keeping above key psychological levels in positioning for the next move higher. The summer of crypto continues to catch fever.
Besides that, we have gold slipping to start the week as traders continue to wait on US tariffs clarification. The spread between COMEX futures and LME futures have collapsed back and that's pinning the precious metal down to start the new week. Spot gold is down 1.3% to $3,352 currently.
This article was written by Justin Low at investinglive.com.Hence then, the article about investinglive european markets wrap dollar steady gold slips markets wait on us cpi 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.
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