- April 10, 2019
- Posted by: Trading
- Category: Market Overview
- Europe, U.S. futures hold onto green territory after mixed Asian session
- Yields fall below 2.5% as investors rotate into safety on lower IMF growth outlook, trade tariffs headwinds
- Pound climbs on reports the EU may opt for 1-year Brexit delay
Europe’s and futures on the , and crawled higher this morning, following a mixed Asian session dominated by the effect of new tariff threats from the White House and by a further reduction, from the International Monetary Fund, of the global economic outlook—to the lowest level since the 2008 financial crisis.
Japan’s (-0.53%) and Hong kong’s (-0.13%) slid lower, while China’s (+0.07%) and South Korea’s (+0.49%) edged higher.
Global Financial Affairs
In Tuesday’s U.S. session, equities ended the longest winning streak in a year and a half, as investors sought safety and rotated into Treasurys amid concerns of a slowing economy and lingering trade tensions.
The (-0.61%) halted a nine-day rally, after U.S. President Donald Trump’s threats of higher tariffs on a batch of European goods hit multinationals stocks such as Caterpillar (NYSE:) particularly harshly. Airlines shares led by Boeing (NYSE:) remained under pressure after Trump’s move re-ignited a 15-year long dispute with Europe over aircraft subsidies that sees the U.S. plane company pit against Franco-German rival Airbus (PA:). stocks also dragged the lower (-0.72%), while energy producers took a hit from the bleak outlook posted by the IMF.
Meanwhile, yields on Treasurys fell below the psychological 2.5% level, though it could just be part of a falling flag—bullish after this month’s rebound.
In FX trading, the ticked higher on reports that EU ministers meeting today to deliberate on a second Brexit delay may be leaning towards a one-year postponement.
surged paring yesterday’s losses, on signs of tighter global supplies, which offset the downward price effect of Russia’s recent caution against setting out further output cuts.
- West Texas Intermediate crude gained 0.4% to $64.23 a barrel.
- rose less than 0.05% to $1,304.45 an ounce.
- The climbed 0.1%.
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