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The @Newsquawk US Market Open: European stocks mixed, USD boosted, commodities pressured

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The always awesome @Newsquawk US Market Open: European stocks trade mixed, USD is boosted, commodities are pressured, and UK clocks changed

Full Note – incl Podcast

Highlights:

European bourses began the week modestly firmer, though this proved shortlived and the complex has pivoted to being mixed overall in-fitting with the APAC handover

Stateside, futures are under more pressure, ES -0.5% as yields pickup a touch, NQ -0.7% lags slightly as such

USD is bolstered by the general risk tone, Yuan pressure post-PMIs and the latest piece from WSJ’s Timiraos; DXY to a 111.20+ peak

Core fixed benchmarks pressured with yields extending as we enter a week dominated by Central Bank activity

Commodities under pressure amid the USD pickup and weak Chinese PMIs alongside COVID woes

Looking ahead, highlights include US Chicago PMI & a speech from ECB’s Lane.

UK clocks changed from BST to GMT on Sunday, October 30th. As such, the time gap between London and New York is four hours until US clocks change on Sunday, November 6th.


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