Europe Market Open: Mixed/cautious trade ahead of US data & the BoC
5.06.2024
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4:20
- APAC stocks traded mixed as the cautious mood from Wall Street reverberated into Asia-Pacific, with macro newsflow overnight on the lighter side; Tokyo underperformed.
- DXY was caged in a tight range as traders look ahead to the US ISM Services data for impetus following Monday's dovish Manufacturing print.
- YouGov/Sky News Snap Debate Poll: PM Sunak won the first head-to-head election debate [Sunak 51%, Starmer 49%].
- European equity futures are indicative of a firmer cash open with the Euro Stoxx 50 future +0.5% after cash closed -1.0% on Tuesday.
- Looking ahead, highlights include EZ, UK, Canadian & US Services & Composite PMIs, US ADP National Employment, US ISM Services, NBP and BoC Policy Announcement, BoC's Macklem & Rogers, and Supply from the UK and Germany.
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