- Friday's trading on Wall Street ended in mixed sentiment. The Nasdaq technology index was the only benchmark to post any intraday gains, nevertheless they did not exceed 0.15%.
- Other indices dropped, with the worst performer being the Russell 2000, which lost 1.61%. On the same day in Europe, Germany's DAX lost 1.34%, France's CAC40 lost 2.66% and Britain's FTSE 100 was down 0.21%.
- The very weak sentiment from Friday continues today in APAC markets as well, with Japan's Nikkei losing 2.05% and Korea's KOSPI down 0.41%. The Hang Seng is doing marginally better today, but the better sentiment here is offset by declines in mainland Chinese markets.
- From China itself, we learned mixed macro data today. On the one hand, higher retail sales data for May surprised on the positive side. On the other hand, however, their positive tone was negated by lower industrial production figures.
- On Sunday, the Fed's Kashkari communicated that the first interest rate cut may not occur until December.
- Investors will hear statements today from three Fed bankers, Williams, Harker and Cook, as well as ECB President Lagarde.
- In the FX market, the US dollar and the Japanese yen are currently doing best. Antipodean currencies, on the other hand, are doing much less well.
- The commodities market is dominated by declines. Gold is currently losing 0.55%, NATGAS is losing nearly 2.6%, and WTI oil is losing nearly 0.45%.
- Bitcoin as well as Ethereum are trading today close to yesterday's closing levels. However, the overall trend in the digital asset market is more downward this morning.
Heatmap of volatility in the FX market today. Source: xStation
