Skip to content

Risk trades got off to a good start yesterday, but are checked today with US futures marked lower, not thanks to a SNAP back the other way. S&P 500 futures are down 0.8%, Nasdaq futures are down 1.4% and Dow futures are down 0.4% on the day.

That’s seeing the dollar regain some footing after yesterday’s pullback, but shifts between major currencies are still relatively small today. The greenback is still trying to shake off a loss of momentum after losing ground last week – its first weekly decline in seven.

The risk mood will continue to dictate the proceedings as we settle into the new week. There is an element of push and pull in the markets after the solid upward push in the dollar and worsening risk sentiment over the past couple of months. Dollar bets are cooling and deleveraging and selling pressures are also more contained for the time being. Call it a correction or a lagging retracement, but that’s what it is.

Looking ahead, the latest PMI readings in Europe should reaffirm roughly similar conditions in April. The focus will continue to be on inflationary pressures and the growing impact on businesses and consumers, with the outlook still facing some key risks as such.

0645 GMT – Business confidence in France in May
07:15 GMT – France May flash manufacturing, services, composite PMI
07:30 GMT – Germany May flash manufacturing, services, composite PMI
08:00 GMT – Eurozone May flash manufacturing, services, composite PMI
08:30 GMT – UK May flash manufacturing, services, composite PMI
1000 GMT – UK May CBI retail reported sales

That’s all for the upcoming session. I wish you all the best days ahead and good luck with your trading! Stay safe there.

cnbctv18-forexlive-benzinga -Sp

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.