Analysts at ANZ explained that the USD fell overnight, reversing yesterday’s strength. US equities fell on the latest headlines in the ongoing US-China trade dispute. The S&P 500 finished down 0.5%.
Key Quotes:
“Oil was whippy, with WTI reaching $75/bbl for the first time since November 2014 before sharply dropping to be up 0.3% over the session at the time of writing.”
“Fixed income was firm, aided by weakness in the oil price.”
“The US 10-year note yield fell 4bps to 2.83%.”
“Gold rose 0.9%. US markets closed early with the 4th of July holiday tomorrow.”
“In Europe, equities rose, aided by an apparent compromise between German political parties over immigration.”
“The DAX rose 0.9%, the CAC 40 was up 0.8% and FTSE 100 rose 0.6%. The bund yield eased 1bp to 29bps.”
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