US equities fell again Thursday as rising Treasury yields and escalating geopolitical concerns weighed on risk appetite, with the Dow leading declines. Oil extended its rally to around a month-long high on renewed US threats towards Iranian allies, while gold held steady near resistance. The US Dollar finished largely unchanged. A busier calendar awaits, with UK Retail Sales and global flash PMIs in focus.
📊 Equities
US equity markets came under renewed pressure on Thursday as rising Treasury yields and escalating geopolitical concerns weighed on risk appetite, with the Dow leading declines as traders stayed cautious heading into the weekend.
🛢️ Oil
Oil extended its recent rally, with renewed US threats towards Iranian allies adding further concerns around regional energy supply disruption, taking both benchmarks to their highest levels in around a month.
🥇 Gold
Gold stayed relatively steady near key resistance, with the inability to break higher leaving the technical picture in focus as geopolitical uncertainty continues to provide underlying support.
💵 FX & Bonds
Treasury yields pushed higher across the curve, a day after the US Treasury announced an increase in its longer-dated bond buybacks, highlighting continued pressure on the bond market despite the additional support. The US Dollar finished largely unchanged.
📌 Today’s Focus
The calendar is busier today, with UK Retail Sales and a series of European and US PMI releases. With tensions continuing to build, traders are likely to stay focused on news flow heading into the weekend, with liquidity typically thinner in the final session.
🔹 UK – Retail Sales Data
🔹 France – Flash Manufacturing and Services PMI Data
🔹 Germany – Flash Manufacturing and Services PMI Data
🔹 UK – Flash Manufacturing and Services PMI Data
🔹 Canada – Retail Sales Data
🔹 US – Flash Manufacturing and Services PMI Data