Analysts at TD Securities, (TDS), explained that markets traded with a moderately upbeat tone ahead of a new round of tariffs on $34bn of Chinese imports, scheduled to go into effect at midnight ET.
Key Quotes:
“US equities extended a rally from the European session (SPX: +0.8%) while the TSX edged 0.3% lower.”
“Meanwhile, Canadian rates outperformed USTs on a modest rally from 5s onwards.”
“The USD took little direction from the FOMC Minutes and was mixed against G10 FX amid elevated uncertainty on the trade front. EUR (+0.3%) rallied on an upside surprise in German factory orders while the other majors saw little change against the greenback.”
“German IP, European politics and dual employment reports in North America will serve as the main risk events for Friday.”
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