Analysts at ANZ offered a global market snapshot for Monday heading into early Asia’s open.
Key Quotes:
“The USD firmed overnight reflecting current trade concerns and divergent data releases. This see-saw price action in the dollar is showing no signs of abating with the DXY contained in a 94.50-96.0 range for now.”
“European stocks underperformed but did not fully follow the sharp sell-off in Asia yesterday.”
“As Q3 gets underway, the crosscurrents of still strong US growth, mounting trade concerns and euro area economic underperformance continue. Nothing has really changed. The yield on the US 10-year note was steady at 2.86% with the S&P 500 flat at the time of writing.”
“The DAX finished down 0.6%, the CAC 40 was off 0.9% and the FTSE closed 1.2% lower.”
“WTI oil prices were initially sharply weaker, but ground higher to be down 0.4% (US$73.90/bbl) at time of writing.”
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