Dow Jones futures gain by 0.64%, trading near 46,900 during European hours on Wednesday, ahead of the United States (US) regular market open. Meanwhile, S&P 500 and Nasdaq 100 futures rise 0.72% and 1.06% to near 6,620 and 24,170, respectively, at the time of writing.
The US Dollar (USD) is trading lower against its main peers on Wednesday, as Trump’s comments hinting at a swift end to the war in Iran have boosted investors’ appetite for risk.
Danske Research Team points to softer US labour indicators and lower yields as headwinds for the US Dollar (USD). JOLTS openings fell and the openings-to-unemployment ratio dropped, hinting at weaker wage growth.
Italy Unemployment meets forecasts (5.3%) in February
Eurozone HCOB Manufacturing PMI above forecasts (51.4) in March: Actual (51.6)
Greece S&P Global Manufacturing PMI up to 54.5 in March from previous 54.4
Gold (XAU/USD) sticks to its intraday gains through the first half of the European session and currently trades above the $4,700, close to a nearly two-week high touched earlier this Wednesday.
Germany HCOB Manufacturing PMI came in at 52.2, above expectations (51.7) in March
France HCOB Manufacturing PMI below forecasts (50.2) in March: Actual (50)
The GBP/JPY cross shows some resilience below the 100-day Simple Moving Average (SMA) for the second consecutive day and gains some positive traction on Wednesday.
ING’s Francesco Pesole highlights that hawkish European Central Bank rhetoric is making Euro front-end rates stickier on the downside versus the US, where Fed easing is more easily priced.
NZD/USD extends its gains for the second successive day, trading around 0.5760 during the European hours on Wednesday. The technical analysis of the daily chart signals an ongoing bearish bias as the pair remains within a descending channel pattern.
