In the European trading session that started two hours ago, markets have shown a mixed performance across major indices. The FTSE 100 is up by 21.42 points, or 0.26%, reflecting slight optimism, while the CAC 40 has dropped by 9.53 points, down by 0.12%, indicating some weakness in French equities. The AEX from the Netherlands is up by 0.42%, showing positive movement with a gain of 3.81 points. Meanwhile, Germany’s DAX has risen by 49.50 points (0.26%), indicating strength in the German market. On the other hand, Spain’s IBEX 35 has fallen sharply by 0.30%, shedding 35.30 points. The broader Euro Stoxx 50 is showing a modest gain of 7.80 points, up by 0.16%, while Switzerland’s SMI has surged by 52.22 points, up 0.43%, highlighting the stronger performance in Swiss equities.
On the commodities and futures front, crude oil has experienced a significant drop of 2%, trading at $66.81 per barrel, while natural gas is down by 0.82%. Meanwhile, gold has seen a positive uptick, gaining 0.26% and trading at $2666.20. Equity futures such as the Dow are down by 0.17%, and the S&P 500 has declined by 0.06%, reflecting some pressure in U.S. futures markets. The Nasdaq 100 has managed to stay in positive territory, gaining 0.07%.
In the forex and bond markets, the EUR/USD has slipped by 0.24%, reflecting a weaker euro against the dollar, while the USD/JPY has gained 0.13%, showing some dollar strength. The GBP/USD is slightly down by 0.28%. On the cryptocurrency side, BTC/USD (Bitcoin) is up by 0.28%, indicating some positive movement. U.S. treasury yields are up across the board, with the 5-year treasury rising by 2.11%, the 10-year treasury up by 1.41%, and the 30-year treasury increasing by 0.88%, signaling higher bond yields.
In terms of economic data, the Australian retail sales report for August came in slightly better than expected at 0.7%, beating the consensus of 0.4%. In Europe, the Core Harmonized Index of Consumer Prices (HICP) for September grew less than expected at 2.7% against a 2.8% YoY consensus. U.S. ISM Manufacturing PMI for September is set to be released later today, with the market expecting a slight contraction at 47.5. This data will be crucial in guiding market sentiment for the remainder of the day.
The European session reflects cautious optimism in some regions while mixed economic data and lower commodity prices have resulted in a more restrained outlook in others.
