NewsFeeder
Headline News
- Reaction score
- 3
Pound Dips With Euro as Trading Week Gets Underway: Markets Wrap
(Bloomberg) -- Currency markets saw muted moves in early trading on Monday, though sentiment remained fragile after a rough start to the month for risk assets.The New Zealand dollar slipped along with the pound and euro, though moves for most major currency pairs were subdued. Trading volumes may be light due to the Japan holiday and Treasuries won’t trade until the London open. Equities traders will be watching the open for S&P 500 futures after global stocks posted a more than 2% slide on Friday. China is also shut for a holiday.The more than 10% rally in world shares in April is being tested as investors assess efforts from countries starting to ease lockdown restrictions against fears of a second wave of infections and a steady steam of bad economic data. Earnings roll on this week, with firms including Disney, BMW, and Air France-KLM.“While it is unlikely that we will retest the March lows, at least there is some chance that we head back toward the bottom of the April trading range -– which would be a further 7-10% downside from here, for most risk assets,” said Ciaran Mulhall, managing director at Solus Capital Partners Ltd.On the virus front, Gilead Sciences Inc. plans to get its drug remdesivir to patients within days after getting U.S. backing for emergency use. New York added the fewest new deaths in more than a month, while fatalities slowed in the U.K. and Italy.Meantime, North Korean troops fired at their South Korean counterparts in the demilitarized zone that divides the two countries for the first time in years. The move came a day after Kim Jong Un resurfaced at a fertilizer factory, ending weeks of speculation about his whereabouts.These are the main moves in markets:StocksThe S&P 500 Index lost 2.8% on Friday.Futures on Australia’s S&P/ASX 200 Index slid 0.1%.CurrenciesThe yen was little changed at 106.83 per dollar.The euro bought $1.0974.The offshore yuan was at 7.1344 per dollar.BondsThe yield on 10-year Treasuries fell three basis points to 0.61% on Friday.CommoditiesWest Texas Intermediate crude added 5% to $19.78 a barrel on Friday, when gold traded up 0.8% to $1,700.42 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
https://finance.yahoo.com/news/pound-dips-euro-trading-week-211403349.html?.tsrc=rss
(Bloomberg) -- Currency markets saw muted moves in early trading on Monday, though sentiment remained fragile after a rough start to the month for risk assets.The New Zealand dollar slipped along with the pound and euro, though moves for most major currency pairs were subdued. Trading volumes may be light due to the Japan holiday and Treasuries won’t trade until the London open. Equities traders will be watching the open for S&P 500 futures after global stocks posted a more than 2% slide on Friday. China is also shut for a holiday.The more than 10% rally in world shares in April is being tested as investors assess efforts from countries starting to ease lockdown restrictions against fears of a second wave of infections and a steady steam of bad economic data. Earnings roll on this week, with firms including Disney, BMW, and Air France-KLM.“While it is unlikely that we will retest the March lows, at least there is some chance that we head back toward the bottom of the April trading range -– which would be a further 7-10% downside from here, for most risk assets,” said Ciaran Mulhall, managing director at Solus Capital Partners Ltd.On the virus front, Gilead Sciences Inc. plans to get its drug remdesivir to patients within days after getting U.S. backing for emergency use. New York added the fewest new deaths in more than a month, while fatalities slowed in the U.K. and Italy.Meantime, North Korean troops fired at their South Korean counterparts in the demilitarized zone that divides the two countries for the first time in years. The move came a day after Kim Jong Un resurfaced at a fertilizer factory, ending weeks of speculation about his whereabouts.These are the main moves in markets:StocksThe S&P 500 Index lost 2.8% on Friday.Futures on Australia’s S&P/ASX 200 Index slid 0.1%.CurrenciesThe yen was little changed at 106.83 per dollar.The euro bought $1.0974.The offshore yuan was at 7.1344 per dollar.BondsThe yield on 10-year Treasuries fell three basis points to 0.61% on Friday.CommoditiesWest Texas Intermediate crude added 5% to $19.78 a barrel on Friday, when gold traded up 0.8% to $1,700.42 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
https://finance.yahoo.com/news/pound-dips-euro-trading-week-211403349.html?.tsrc=rss
