MARKET UPDATE 05-Jul-18

Markets were fairly quiet following a non-eventful European session amid low key economic data. However, the euro erased losses on the chance of an earlier rate increase by the European Central Bank; after a report that some policy makers were uneasy about expectations for a hike as late as December 2019.

European stocks ended fractionally higher while futures for the S&P 500 advanced in a lackluster trading session overshadowed by the U.S. holiday.

The mood in Asia was more downbeat, and shares slipped even as the yuan extended a rebound.

For the rest of the week, eyes will be firmly placed on China and the US trade tension. China is expected to begin imposing tariffs on $34 billion worth of U.S. goods on Friday, and it would be interesting to see how this impacts the market….if any at all….

FX Rates 05.07.18

 

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