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US Market Open: Europe bolstered by the Wall St. handover heading into a frontloaded US docket
3.7.2024
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4:19
- European bourses are higher across the board as the region catches up to the Wall St. handover and continues generally strong APAC performance
- DXY under pressure and holding near the 105.59 low with peers generally firmer as the USD continues to feel the weight of Powell's remarks and looks to the mentioned data deluge
- OAT-Bund 10yr yield spread has narrowed to below 68bps at best, though is still circa. 20bps above pre-election levels; largely unreactive to PMIs
- Crude benchmarks began the session firmer after the private data on Tuesday, though they have since waned; metals generally supported
- Looking ahead, highlights include US Final PMIs, US ADP, IJC, Challenger, Factory Goods, ISM Services, FOMC Minutes, NBP Policy Announcement, US Refunding (3,10,30yr), Comments from Fed's Williams, ECB's Lane, Lagarde, de Guindos & Knot, Earnings from Constellation Brands.
- Click for the Newsquawk Week Ahead
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