German Dax fall -0.5%
The European stock markets are ending lower in trading today. Concerns about an escalation of tariffs weighed on shares.
- German' Dax fell -0.5%
- France's Cac fell -0.3%
- UK's FTSE fell -1.3%
- Spain's Ibex fell -0.7%
- Italy's FTSE MIB fell -1.9%
- Portugal's PSI20 bucked the trend with a gain of 0.3%
In the 10 year note sector, yields moved pretty sharply higher with gains of 4.3 to 6.9 bps:
In other markets as London/Europe look to exit:
US stocks are mixed and off high levels:
- S&P is unchanged at 2816. The high reached 2825.83
- Dow is down -19 points at 25396. The high reached 25488
- Nasdaq is up 23 points at 7695. The high reached 7732
US yields are higher with the longer end rising the most (yield curve steepens).
- Spot gold is trading down -$5.46 or -0.44% at $1218.82
- WTI crude oil is down -$1.28 or -1.85% at $67.50
In the forex market, the snapshot shows, that the JPY is the strongest. The NZD remains the weakest. The USD is mixed before the FOMC decision. The greenback is higher vs the EUR, CHF, AUD and NZD. It is lower vs the JPY and the CAD and unchanged vs the GBP (BOE decision tomorrow).
Ranges for the major pairs today remains contained as the market waits for the next push. That may come with the FOMC later today. Tomorrow the BOE is expected to tighten. ON Friday the US employment report will be released.
