- Indices from the Old Continent ended today's session in a slightly better mood, given the declines recorded at the start of trading in Europe. The German DAX gained 0.14%, the French CAC40 added more than 0.62% and the Euro Stoxx gained 0.41%.
- On Wall Street, rallies also dominated, but on the other hand, their scale was somewhat reduced during the second half of the US session. The Nasdaq gained 0.29%, the S&P500 added 0.18% and the Dow Jones rose 0.22%.
- It is worth mentioning that the negative sentiment on Wall Street yesterday was linked to negative news for Apple. China was said to have banned the use of Apple phones in government institutions, in response to a ban on technology transfers from the US to China. Today, Apple shares gained slightly, and the company is gearing up for the launch of a new phone next Tuesday
- Market sentiment deteriorated during the second half of the session, as illustrated by a slight reduction in gains on indices and a rise in yields. The dollar is also gaining. Interestingly, expectations of a hike from the ECB next week are growing. A hike from the ECB could increase the chances of a move from the Fed.
- In the FX market, the Canadian dollar and the New Zealand dollar are currently the best performers. The Japanese yen and the British pound are currently recording the largest declines in the broad market.
- The CAD's appreciation is mainly due to good macro data from Canada. Employment growth came in at 39.9k (expected: 15.0k; previous: -6.4k).
- The USDCNH pair broke out today to levels of 7.35, which border on the highest levels recorded since October 2022. The reason for such large yuan sell-offs on a daily basis was today's lowest fixing for the currency pair in two months.
- In the commodities market, investors reacted mainly to news coming out of the gas sector. Workers' unions in Australia announced that they would begin a long-awaited strike today at Chevron's Australian LNG plants. A partial strike began today at the Gorgon and Wheatstone LNG plants, which together account for about 7% of global LNG supply.
