US Market Open: Price action tentative ahead of today's key US CPI & FOMC announcement
12.6.2024
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3:54
- European bourses are modestly firmer, trimming this week’s recent losses; price action tentative ahead of today’s US CPI and FOMC
- DXY is flat, G10s modestly gain vs the Dollar though the JPY dips slightly
- USTs are flat and at highs, Bunds/Gilts both move higher with the latter also factoring in the in-line GDP metrics, with focus on the soft Construction figures
- Crude is at highs amid ongoing geopolitical escalations, XAU flat while base metals trim recent losses; complex unreactive to mixed Chinese inflation data
- Looking ahead, US CPI, Fed Policy Announcement, Comments from ECB’s de Guindos, Fed Chair Powell & BoC Governor Macklem, Earnings from Broadcom
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