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US Market Open: Equities pressured, Gilts bid post-UK jobs & USD gains; ECB speak due
6/11/2024
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- Equities are modestly in the red, in a continuation of the downbeat mood seen in APAC trade overnight
- Dollar is incrementally firmer, EUR continues to slip and GBP is slightly softer following the UK’s job data which saw an unexpected uptick in the unemployment rate
- Bonds are in the green, attempting to recoup post-NFP losses, OATs remain pressured and Gilts outperform taking a bid after a record Gilt sale
- Crude is slightly softer, XAU is subdued and base metals are considerably weaker after poor Chinese performance overnight
- Looking ahead, US NFIB Business Optimism Index, EIA STEO & OPEC MOMR, Comments from ECB’s Lane, Holzmann, Makhlouf & Elderson, Supply from the US, Earnings from Oracle
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