Euro Market Open: Equities dented amid COVID woes, supporting the DXY
6 Things You Need to Know
- APAC stocks traded mostly lower, US equity futures were pressured, and European equity futures are indicative of a lower open
- DXY traded higher amid the mostly risk-averse mood, USD/JPY briefly rose above 137.00 and extended to its highest level since 1998
- 10yr USTs remained subdued, Bunds languished beneath the 150 level, and 10yr JGBs were pressured
- Crude futures were choppy whilst spot gold languished near last week's lows and industrial metals declined
- Shanghai’s COVID-19 cases continued to increase which prompted authorities to declare more high-risk areas
- Elon Musk announced on Friday to terminate the Twitter (TWTR) deal; Twitter is reported to assemble a legal team to sue Musk
- Looking ahead, highlights include Chinese M2, US Employment Trends, Italian Retail Sales, Riksbank Minutes, EZ Finance Ministers Meeting, Speech from Fed's Williams & US Supply
