US markets finished mixed overnight as investors weighed developments in the Middle East, with uncertainty dragging the Nasdaq lower while the Dow Jones managed a modest gain. Treasury yields and the US dollar both eased ahead of tonight’s highly anticipated CPI report. Oil fell sharply to its lowest level in seven weeks, and gold declined 1.60% as a stronger haven dollar weighed on the metal. News of a US retaliation after Iran downed an American helicopter hit sentiment in the Asian session, pushing gold down a further 1.8% and lifting the dollar against the majors.
📊 Equities
US markets finished mixed overnight as investors weighed ongoing developments in the Middle East. Uncertainty weighed on technology stocks, dragging the Nasdaq lower, while the Dow Jones managed a modest gain.
🛢️ Oil
Oil prices fell sharply to their lowest levels in seven weeks despite ongoing geopolitical tensions in the Middle East.
🥇 Gold
Gold came under pressure overnight, declining 1.60% as the stronger haven dollar weighed on the precious metal. Sentiment deteriorated further in the Asian session after news broke that the US had retaliated following Iran downing an American helicopter, pushing gold down an additional 1.8%.
💵 FX & Bonds
Treasury yields and the US dollar both eased ahead of tonight’s CPI release. However, the dollar regained traction against the majors in the Asian session as geopolitical tensions escalated further.
📌 Today’s Focus
Attention turns to a busy North American session, with US CPI data expected to provide fresh insight into the Federal Reserve’s policy outlook. Markets will also be watching the Bank of Canada’s latest interest rate decision and subsequent press conference for guidance on the path of Canadian monetary policy.
🔹 US CPI Data
🔹 Bank of Canada Interest Rate Decision