US Market Open: Political uncertainty in Europe hits sentiment, JPY initially slipped post-BoJ but now flat
2024-06-14
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4:39
- European bourses are entirely in the red, with sentiment hampered by ongoing political angst in the EU; US futures are also lower, RTY underperforms
- DXY is bid, benefitting from the subdued EUR which dips below 1.07 and a weak JPY post-BoJ
- The BoJ kept rates unchanged but defied expectations for an immediate reduction of bond purchases, instead, it will decide on a specific bond-buying reduction plan at the next meeting
- USTs are flat, EGBs soar amid political uncertainty in the region, with the OAT-Bund spread widening to over 78bps
- Crude is subdued amid the firmer Dollar, XAU benefits from haven flows and base metals are mixed
- Looking ahead, US UoM Survey, comments from Fed’s Goolsbee, Cook & ECB's Schnabel
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