Analysts at TD Securities, (TDS), explained that the risk-off tone continued through the London session, but equities clawed back losses during the NY afternoon despite ongoing tweets on trade from President Trump.
Key Quotes:
“S&P futures closed 0.2% higher.”
“10yr Treasuries also drifted higher throughout the day, finishing the day 1bp higher as the curve bear flattened (5s30s 1.2bp flatter at 23.7bp).”
“Brent crude continued to drift lower on Trump’s tweets that Saudi Arabia could increase oil production, finishing the day 2.4% lower at $77.3/bbl.”
“USD broadly outperformed against its G10FX peers mainly at the expense of AUD and NZD.”
“The EUR moderately struggled after reports emerged of a breakdown in talks within the German coalition over migrant policy.”
“USD/CAD found dip interest towards the notable 1.3125/50 support zone.”
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