US Market Open: TSLA +10%, Autos gain on China reports, PMIs mixed, USD & US yields soft into data
24.10.2024
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- European bourses are entirely in the green and reside just off session highs; US futures also gain, with NQ outperforming after strong TSLA (+10.7%) results.
- Dollar is on the backfoot giving back some of this week’s gains, JPY outperforms with USD/JPY scaling back to a 151 handle.
- USTs/Bunds are on a firmer footing, with EZ PMIs continuing to paint a dire picture in Europe; Gilts are the clear underperformer amid reports that Chancellor Reeves will announce major changes to fiscal rules releasing GBP 50bln for spending.
- Crude continues to pick up, catching a bid following unconfirmed reports which indicated a fire in proximity to an Iranian nuclear facility in Karaj; XAU/base metals are firmer
- Looking ahead, US Flash PMIs, US Weekly Claims, New Home Sales, ECB's Lane & McCaul, Fed's Hammack, BoE's Bailey & Mann.
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