Spain 3-Month Letras Auction: 2.154% vs 2.111%
Spain 3-Month Letras Auction: 2.154% vs 2.111%
Dow Jones futures remains flat ahead of US CPI inflation data
Dow Jones futures are steady around 49,800 during the European hours on Tuesday, ahead of the United States (US) regular opening. Meanwhile, the S&P 500 decline 0.35% to near 7,410, and the Nasdaq 100 futures inch lower 0.77% toward 29,200.
British Pound: Political uncertainty weighs – Commerzbank
Michael Pfister at Commerzbank discusses rising pressure on United Kingdom (UK) Prime Minister Keir Starmer and the implications for the Pound. Markets increasingly expect his resignation, with attention turning to potential successors’ fiscal stances.
Australian Dollar: Budget tightening focus – Rabobank
Rabobank's Senior Market Strategist Benjamin Picton highlights comments from Australian Prime Minister Albanese and Treasurer Chalmers ahead of the Commonwealth budget, stressing concerns over an expensive housing market and planned tax changes.
Gold remains depressed near $4,700 on firmer USD; looks to US CPI for fresh impetus
Gold (XAU/USD) maintains its offered tone below through the early European session on Tuesday and is currently placed around the $4,700 as traders keenly await the release of the US consumer inflation figures.
Japanese Yen: Intervention doubts and BoJ hike risk – BBH
Brown Brothers Harriman (BBH) Elias Haddad notes that USD/JPY has rebounded toward 157.75 after testing 155.00, with 160.00 described as a key line in the sand.
Forex Today: Focus shifts to US inflation data as Middle East peace hopes recede
Here is what you need to know on Tuesday, May 12:
AUD/USD Price Forecast: Languishes near 0.7200 as USD sticks to gains ahead of US CPI
The AUD/USD pair continues with its struggle to find acceptance above the 0.7250 level and attracts fresh sellers on Tuesday as rising US-Iran tensions boost the safe-haven US Dollar (USD).
Euro: Bearish-leaning against as ZEW stays weak – ING
ING’s Francesco Pesole notes EUR/USD has held up with risk sentiment despite Gulf tensions, but warns current levels may not withstand an equity correction.
ECB’s Nagel: Baseline includes two rate hikes
European Central Bank (ECB) Governing Council Member and President of the Deutsche Bundesbank, Joachim Nagel, said during the European trading session on Tuesday that the baseline includes two interest rate hikes in the near term.
Equities: Record highs with chip leadership – Deutsche Bank
Deutsche Bank analysts report that the S&P 500 closed at another record high, supported by strong gains in chip stocks and energy names, even as broader market breadth remained cautious.
Italy Industrial Output s.a. (MoM) above forecasts (0.2%) in March: Actual (0.7%)
Italy Industrial Output s.a. (MoM) above forecasts (0.2%) in March: Actual (0.7%)