A look at the day ahead in U.S. and global markets from Mike Dolan
Europe’s defence stocks (.SXPARO), opens new tab, up almost 20% for the year so far, surged another 1% on Tuesday as U.S. officials met Russian counterparts in Saudi Arabia for talks about ending the war in Ukraine and Germany prepared to go to the polls this weekend.
U.S. markets were closed on Monday for the President’s Day holiday and are set to return in relatively buoyant mood, with stock futures firmer near record highs even with Treasury yields and the dollar ticking back higher again.
GBP initially outperforming via firmer crosses…helped by the UK jobs report (dip in jobless rate, hotter wages)… but giving back early gains,,, e.g. EURGBP bounced after holding .8290 support (cited yesterday)
USDJPY focus is back on pivotal 152, brief test above failed to hold … US 10 year back above 4.50% marginally so far
EURUSD moves farther below 1.05. needs to hold 1.0447 or focus shifts to 1.0370-00
AUDUSD up marginally after widely expected 25bps rate cut, first one in 4 yearsa
Light US economic calendar means looking for news headlines elsewhere