The market is staying more tepid as we await Fed chair Powell's speech
- Eurostoxx flat
- Germany DAX +0.1%
- France CAC 40 +0.1%
- UK FTSE flat
- Spain IBEX -0.2%
It is a quiet start to European morning trade, with the market largely moving sideways in anticipation of Powell's speech later today. US futures are down by ~0.1% but not really hinting at much, with Treasury yields also sitting little changed.
In the major currencies space, it is also all quiet with narrow ranges prevailing for the most part. EUR/USD is at 1.1825 but sticks within a 26 pips range and trades in between both its key hourly moving averages for now i.e. near-term bias more neutral.
