EU Opening

Written on 06/07/2023


Key Global Events

After the RBA got busy yesterday, the Canadian central bank will publish its decision on the interest rate hike today.  
Bitcoin bounced above the $26,000 mark on Tuesday, shrugging off concerns caused by lawsuits coming from the U.S. SEC against Binance and Coinbase.
A mixed start for European stock exchanges. Milan's FTSE MIB -0.23%, Paris' CAC -0.26%, Madrid's IBEX +0.52%, London's FTSE -0.31%. Wall Street futures trade below par again. Dow Jones -0.100%, S&P500 -0.07% and the Nasdaq +0.14%.

Forex & Commodities

The euro and the pound give ground against the greenback. The dollar continues its bull market. EURUSD cross -0.22%, GBPUSD -0.21%. Among commodities, energy and metals trade lower this morning. Oil trades around $71.40 per barrel. Gold trades at 1971 $ an ounce (-0.5%).

Index

Stock markets in the Asia-Pacific region were mixed Wednesday, with the focus on trade data from China which disappointed expectations. The benchmark index, Tokyo's Nikkei 225 closes down -1.82 %. China's Hang Seng index trades at 19,245 gaining +0.76 %.

Global Macroeconomic Data 

EUR - day that sees several ECB members engaged in press conferences, starting from De Guindos to Fernandez-Bollo and Panetta.
CAD - At 4 p.m. the decision on the interest rate hike will be published. Analysts predict an unchanged rate at 4.50%.
US - At 4:30 p.m. the report on US crude oil stocks will be released. Stocks expected to fall to 1,152 million barrels. A decline of 3.336 million barrels.