German DAX, up modestly. UK’s FTSE down 1%
The major European indices are closing the day with mixed results. The provisional closes are showing:
- German DAX, up 0.1%
- France’s CAC, up 0.2%
- UK’s FTSE 100, -1.0%
- Spain’s Ibex, -0.5%
- Italy’s FTSE MIB, +0.1%
a snapshot of other markets as London/European traders look to exit shows:
- Spot gold trading up to dollars and $0.28 or 0.13% at 1791.58
- Spot silver is up $0.10 or 0.41% $24.04.
- WTI crude oil futures are trading near unchanged at $69.35
- Bitcoin is trading up $815 at $46,907.35
in the US stock market, the major indices are higher but off their highest levels:
- Dow is up 33.18 points or 0.09% at 35063
- S&P index is up 2.18 points or 0.05% of 4516.20
- NASDAQ is up 28 points or 0.18% at 15314.24
GDP forecasts released Sept 9, 2021:
- 2021 GDP +5.0% vs +4.6% prior
- 2022 GDP +4.6% vs +4.7% prior
- 2023 GDP +2.1% vs +2.1% prior
These were previously boosted back in June.
Lagarde said the pandemic GDP losses should be recovered by year end.
The push and pull continues for USD/JPY
The pair is down from 110.20 earlier to 110.00 now as risk sentiment leans towards the softer side to start European morning trade.
Quieter tones prevail once again so far on the day
That said, risk sentiment is still rather soggy and that may fuel a bit more of a defensive tone as we look towards the start of European trading later.
While FX is keeping in tighter ranges, US futures are down roughly 0.3% with 10-year Treasury yields keeping around 1.33% after the drop yesterday.
There was quite a bit of push and pull in the dollar overnight and that may yet keep the course as the market sorts itself out on the week. For today though, the ECB policy meeting will be a key risk event to watch for any moves.
EUR/USD is keeping around 1.1815-20 following the drop yesterday, with the 1.1800 level still holding though sellers are maintaining near-term control for now.
North Korean dictator Kim Jong Un appears to be in much better health.
This photo of him at the recent military parade in Pyongyang. Well, I’m told its him, it doesn’t look like him.