As the US earning seasons gets underway, there’s been mixed results across equity markets particularly with a lot of closures here in Asia as the trading week stumbles into the open, while macro concerns in Europe over Ukrainian grain and energy prices amid the heatwave put a damper on European shares.
Currencies pulled back slightly from their one way trade against USD again following the softer than expected CPI and PPI prints but Euro is holding firm above the 1.12 handle while the Australian dollar was pushed back to the low 68 cent level.
US bond markets saw a slight retracement in yields with the 10 year back to 3.8%, while oil prices also pulled back after putting in a new monthly high with Brent crude falling below the $79USD per barrel level. Gold held on to its bounceback with a welcome consolidation below the $1960USD per ounce level.
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