US Market Open: Broadly constructive risk tone after a RBA tightening slowdown & ahead of Fed speak
Poin-poin penting:
- European bourses have commenced the session on the front foot as broader sentiment remains constructive largely in a continuation of yesterday's recovery.
- Stateside performance is very in-fitting, ES +1.5%, ahead of Fed speak and after a constructive update from Foxconn.
- USD continues to pullback to the broad benefit of peers, DXY sub-111.00 at worst while Cable reclaims 1.14
- Core debt is bid across the board, though has since dipped from best levels, with Gilts back above 100.00 but still multiple points shy of pre-Kwarteng levels.
- Crude benchmarks are modestly bid this morning, taking the lead from broader sentiment and associated FX action awaiting OPEC+
- Looking ahead, highlights include US Factory Orders Speeches from Fed's Williams, Logan, Daly, Mester & Jefferson, ECB's Lagarde, UK Chancellor Kwarteng.
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