investingLive European markets wrap: Dollar remains tentative, gold off the highs in post-CPI trading
Headlines:
- It's on to Jackson Hole next..
- Dollar stays more muted so far today amid lack of any post-CPI momentum
- Gold fails to find that additional spark from US inflation data
- UK Q2 preliminary GDP +0.4% vs +0.4% q/q expected
- UK economy posts unexpected growth in June on stronger services sector showing
- Spain inflation nudges higher in July as both headline and core prices push up
Markets:
- WTI crude oil down 2% to $81.58
- CHF leads, NZD lags on the day
- European equities higher; S&P 500 futures up 0.2%
- Gold down 0.4% to $4,388
- US 10-year yields down 1.7 bps to 4.675%
- Bitcoin down 0.2% to $63,387
The US CPI report for July was rather benign and that's not giving market players all too much to work with as we get into the second half of the week.
The dollar recoverd from overnight lows late yesterday before trading rather sideways in European morning trade today. EUR/USD is keeping in a narrow range, up just 0.1% to 1.1535. Meanwhile, USD/JPY remains little changed at around 159.20-30 levels for the most part.
Looking to geopolitical developments, the US-Iran conflict continues to see little progress in general. As such, the broader market mood remains tentative at best even if oil prices are trading down today. WTI crude is lower by 2% to $81.58 currently. Meanwhile, bond yields are also off the highs with 10-year Treasury yields down 1.7 bps to 4.675% today.
Still, it's all not hinting at much besides a bit of a breather in the market mood in awaiting further headlines and developments.
Elsewhere, equities remain steady with some modest gains in European stocks while US futures are pushing a little higher on the day. Wall Street was able to keep light gains after the inflation data yesterday and are seen just a little higher today as well - at least for now.
Besides that, gold is falling off from its Asia highs and is down 0.4% to $4,388 as buyers continue to try and push for a firmer break above the $4,400 mark this week. But in the absence of a notable spark, we're not quite there yet.
It's on to the US weekly jobless claims and PPI data up next.
This article was written by Justin Low at investinglive.com.提供 MainLink:Investinglive RSS Breaking News Feed
