EU Opening

Written on 05/30/2023


Key Global Events

Trading returns to Wall Street after Memorial Day. We'll see how U.S. listings react following the debt ceiling agreement reached over the weekend. Futures this morning are signaling a potential upward start.
Political maneuvering will be needed to get the bill through the Republican-controlled House of Representatives and the Democratic-controlled Senate before the June 5 deadline.
The Turkish lira slumped to record lows after Erdogan's election victory. Turkish lira is trading at 20.15 against the greenback.
Negative start for European stock markets. Milan's FTSE MIB -0.41%, Paris' CAC -0.63%, Madrid's IBEX +0.76%, London's FTSE +0.74%. Wall Street futures follow the European wake and trade higher. Dow Jones +0.32%, S&P500 +0.41% and Nasdaq +0.60%.

Forex & Commodities

The EURUSD cross trades -0.36% at 1.0680. Cable trades +0.07% at 1.2349. Oil trades around $72.30 per barrel (-0.54%). Gold trades at $1954 (-0.49%).

Index

Asia's markets traded upward. The benchmark index, Tokyo's Nikkei closes registering +0.30%. China's Hang Seng index trades at 18,571 giving up +0.09%. Wall Street futures follow the European wake and trade up. Dow Jones +0.32%, S&P500 +0.41% and the Nasdaq +0.60%.

Global Macroeconomic Data 
EUR- At 10 a.m. the German inflation figure will be released. On an annual basis it is expected unchanged at 7.2%. 
US- At 4 p.m. the U.S. consumer confidence report will be released.