Trump's rejection of Iran's Hormuz proposal keeps oil, yields and inflation fears in focus. Rate-hike bets are weighing on risk assets.
Wall Street closed lower on Monday:
Dow –0.67% at 51,481.51
S&P 500 –0.77% at 7,683.69
Nasdaq –0.92% at 26,820.38
The US 10-year yield is about 5.26%, near its highest since 2007.
Asian markets are lower this morning:
Nikkei 225 –1.35% at 64,988
Kospi –1.07% at 6,816
Hang Seng –0.95% at 24,409
Shanghai Composite –0.03% at 3,823
ASX 200 –0.11% at 8,670
The RBA raised its cash rate by 25 bps to 4.60%, the fourth hike this year and a 15-year high.
Forex:
EUR/USD 1.1361 (–0.09%)
GBP/USD 1.3237 (–0.15%)
USD/JPY 157.51 (+0.08%)
AUD/USD 0.7020 (+0.03%)
Gold: $4,126 (+0.28%), recovering slightly after Monday's sharp selloff.
Oil: Brent $99.87 (+2.09%) and WTI $94.31 (+1.85%).
Bitcoin: $83,249 (–0.06%).
Today (CEST):
11:00 – Eurozone economic sentiment and consumer confidence
16:00 – US consumer confidence and JOLTS job openings
Evening – Fed speakers Barr, Goolsbee, Musalem and Williams
Iran headlines and Fed comments can move the dollar, gold and oil quickly. Trade carefully!
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