Risk appetite picks up after a sluggish start to European morning tradeWeekly update on interest rate expectationsWhat is the distribution of forecasts for the US PPI?ECB's Nagel: US tariffs could push Germany into recession this yearECB's Rehn says should aim at negotiated solutions for US tariffsPBOC says will cut interest rates and RRR at the proper timeEurozone January industrial production +0.8% vs +0.6% m/m expectedJapan's largest industrial union says its members received average 5.37% increase in wagesGermany's Greens party official says no progress yet in talks on debt plansGermany's Greens party official says there is no rapprochement in talks so farUS envoy Witkoff has arrived in MoscowIEA trims world oil demand forecast for the year, sees oil market surplus for 2025
Markets:
JPY leads, AUD and NZD lag on the dayEuropean equities mixed; S&P 500 futures down 0.3%US 10-year yields up 1.9 bps to 4.335%Gold up 0.5% to $2,946.73WTI crude down 0.3% to $67.49Bitcoin down 0.4% to $82,793Equities struggled in early European trading before a slight recovery mid-way through the session. But as we move closer to US trading now, the mood music is looking softer again as US futures dip lower following a brief jump to erase earlier losses.
Similarly, European indices opened lower before moving up during the session. At the highs, the DAX held 0.4% gains but is now back down by 0.4% while the CAC 40 is now flat after turning earlier losses into gains of around 0.6% at one point.
Meanwhile, EUR/USD is down a touch hovering around 1.0860-70 levels while the antipodes are lagging with AUD/USD seen down 0.5% to 0.6285 currently.
It's now over to US trading again to see how the chaos unfolds with PPI data and weekly jobless claims to add to Trump's tariffs and more geopolitical headlines.
This article was written by Justin Low at www.forexlive.com. Read More Details
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