7 Jun 2013
Flash: Global market sentiment – Westpac
FXstreet.com (London) - Westpac strategy teams noted that the markets, particularly the FX markets, were extremely volatile following the ECB meeting.
Against a backdrop of nervousness ahead of tonight’s key US payrolls release, the ECB upgraded its growth forecasts and its president said in the press conference there is no need for additional stimulus at present. They explained that the Eurostoxx 50 closed down 1.2% and bond yields rose. They explain that the S&P500 fell 1.2% but completely reversed late NY to close up 0.8%. And mentioned that the BOE also left policy unchanged. They highlight that the biggest mover was USD/JPY, trading more than three big figures lower. Jobless claims in the US fell slightly to 346k from 357k. German factory orders were weak.
Against a backdrop of nervousness ahead of tonight’s key US payrolls release, the ECB upgraded its growth forecasts and its president said in the press conference there is no need for additional stimulus at present. They explained that the Eurostoxx 50 closed down 1.2% and bond yields rose. They explain that the S&P500 fell 1.2% but completely reversed late NY to close up 0.8%. And mentioned that the BOE also left policy unchanged. They highlight that the biggest mover was USD/JPY, trading more than three big figures lower. Jobless claims in the US fell slightly to 346k from 357k. German factory orders were weak.