Global Stock Markets
The dollar gave up some of its recent gains on Thursday, declining as traders confronted a range of catalysts from political risks to missiles in the Middle East. European stocks slipped, U.S. equity futures were steady, and the pound reversed an advance after the Bank of England held interest rates.
Ten-year Treasury yields, which have been driving up the greenback and exacting pain on emerging markets, dipped back below 3 percent to push the dollar toward its first drop in five days.
The Stoxx Europe 600 Index drifted lower on what is a public holiday in various parts of the region -- markets are closed in countries including Switzerland, Sweden, and Austria. U.S. stock futures advanced ahead of a report on consumer prices.
Oil extended its climb in New York. The pound turned lower as policymakers at the central bank voted 7-2 to keep rates unchanged.
The news agenda is offering no respite to investors this week, with tension between Israel and Iran mounting just days after U.S. President Donald Trump roiled the international community with his decision to ditch a nuclear accord with the Islamic Republic.
Meanwhile, the stage is set for a populist government to form in Italy, and traders are rapidly coming to terms with an election upset in Malaysia. Many will now be looking to American inflation data as a welcome diversion.
Earlier in Asia, equities were broadly higher. Malaysian markets are closed, though trading in non-deliverable forwards suggested the ringgit will tumble Monday in the wake of the surprise ouster of the country’s ruling party.
The 2045-maturity dollar bond also declined. Developing markets more broadly signaled stability, and the MSCI Emerging Market Index rallied for a fourth day.
Elsewhere, the New Zealand dollar slid after the central bank left the door open to an interest rate cut as inflation remains contained.
Stocks
The Stoxx Europe 600 Index declined 0.2 percent as of 7:03 a.m. New York time, the first retreat in a week.
Futures on the S&P 500 Index climbed 0.1 percent, reaching the highest in more than three weeks on its sixth consecutive advance.
The MSCI All-Country World Index increased 0.2 percent to the highest in three weeks.
The U.K.’s FTSE 100 Index fell 0.3 percent, the biggest fall in a week.
Germany’s DAX Index advanced 0.3 percent to the highest in 14 weeks.
The MSCI Emerging Market Index jumped 0.8 percent to the highest in more than a week on the biggest increase in almost two weeks.
The MSCI Asia Pacific Index jumped 0.6 percent to the highest in more than a week on the largest climb in almost two weeks.
Currencies
The euro gained 0.3 percent to $1.1887, the first advance in a week.
The British pound decreased 0.1 percent to $1.3533.
The Japanese yen advanced 0.1 percent to 109.59 per dollar, the largest gain in a week.
Bonds
The yield on 10-year Treasuries decreased three basis points to 2.97 percent, the biggest tumble in two weeks.
Germany’s 10-year yield declined one basis point to 0.55 percent, the largest fall in a week.
Britain’s 10-year yield declined one basis point to 1.457 percent, the biggest fall in a week.
Commodities
West Texas Intermediate crude increased 0.5 percent to $71.48 a barrel, the highest in more than three years.
Copper jumped 1.6 percent to $3.11 a pound, the highest in two weeks on the biggest jump in more than three weeks.
Gold advanced 0.3 percent to $1,316.98 an ounce, the highest in almost two weeks on the largest gain in a week.
Ten-year Treasury yields, which have been driving up the greenback and exacting pain on emerging markets, dipped back below 3 percent to push the dollar toward its first drop in five days.
The Stoxx Europe 600 Index drifted lower on what is a public holiday in various parts of the region -- markets are closed in countries including Switzerland, Sweden, and Austria. U.S. stock futures advanced ahead of a report on consumer prices.
Oil extended its climb in New York. The pound turned lower as policymakers at the central bank voted 7-2 to keep rates unchanged.
The news agenda is offering no respite to investors this week, with tension between Israel and Iran mounting just days after U.S. President Donald Trump roiled the international community with his decision to ditch a nuclear accord with the Islamic Republic.
Meanwhile, the stage is set for a populist government to form in Italy, and traders are rapidly coming to terms with an election upset in Malaysia. Many will now be looking to American inflation data as a welcome diversion.
Earlier in Asia, equities were broadly higher. Malaysian markets are closed, though trading in non-deliverable forwards suggested the ringgit will tumble Monday in the wake of the surprise ouster of the country’s ruling party.
The 2045-maturity dollar bond also declined. Developing markets more broadly signaled stability, and the MSCI Emerging Market Index rallied for a fourth day.
Elsewhere, the New Zealand dollar slid after the central bank left the door open to an interest rate cut as inflation remains contained.
Stocks
The Stoxx Europe 600 Index declined 0.2 percent as of 7:03 a.m. New York time, the first retreat in a week.
Futures on the S&P 500 Index climbed 0.1 percent, reaching the highest in more than three weeks on its sixth consecutive advance.
The MSCI All-Country World Index increased 0.2 percent to the highest in three weeks.
The U.K.’s FTSE 100 Index fell 0.3 percent, the biggest fall in a week.
Germany’s DAX Index advanced 0.3 percent to the highest in 14 weeks.
The MSCI Emerging Market Index jumped 0.8 percent to the highest in more than a week on the biggest increase in almost two weeks.
The MSCI Asia Pacific Index jumped 0.6 percent to the highest in more than a week on the largest climb in almost two weeks.
Currencies
The euro gained 0.3 percent to $1.1887, the first advance in a week.
The British pound decreased 0.1 percent to $1.3533.
The Japanese yen advanced 0.1 percent to 109.59 per dollar, the largest gain in a week.
Bonds
The yield on 10-year Treasuries decreased three basis points to 2.97 percent, the biggest tumble in two weeks.
Germany’s 10-year yield declined one basis point to 0.55 percent, the largest fall in a week.
Britain’s 10-year yield declined one basis point to 1.457 percent, the biggest fall in a week.
Commodities
West Texas Intermediate crude increased 0.5 percent to $71.48 a barrel, the highest in more than three years.
Copper jumped 1.6 percent to $3.11 a pound, the highest in two weeks on the biggest jump in more than three weeks.
Gold advanced 0.3 percent to $1,316.98 an ounce, the highest in almost two weeks on the largest gain in a week.
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