Economic Indicators & Central Banks:
Financial Markets Performance:
The USDIndex is steady at 105 lows, at 105.58 ahead of US CPI on Wednesday, while USDJPY is holding at 155.80, after retesting May’s high at 155.96.
EURUSD steady above 1.0750 as the euro zone prepares for an inflation reading of its own on Friday.
USOIL declined amid demand concerns and as traders looked ahead to an OPEC+ meeting on supply policy. On the supply front, the Iraqi Oil Minister initially claimed that production cuts were adequate and opposed further reductions but later deferred decisions to OPEC. Next OPEC+ meeting: June 1. Currently USOIL is at $77.78.
Gold corrected to $2349 per ounce, from $2380 highs.
Market Trends:
Asian stocks fluctuate between gains and losses, as sentiment was impacted by disappointing Chinese economic data alongside optimism amid reports indicating that the country plans to initiate the sale of ultra-long bonds.
European markets are also narrowly mixed in opening trade, while US futures are slightly higher.
The NASDAQ is outperforming. Bonds are finding buyers and the 10-year Treasury yield is down -1.0 bp, while Bund and Gilt yields have corrected -1.3 bp and -2.3 bp in early trade.
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Andria Pichidi
Market Analyst
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