Global market snapshot: equities were weaker across the board - ANZ

Ross J Burland FXStreet

Analysts at ANZ explained that equities were weaker across the board as calls for an enquiry into Facebook data breaches and Cambridge Analytics (who helped Trump win) gathered pace.

Key Quotes:

"That overshadowed positive news that the EU and UK have reached agreement on terms of a transition deal that will last until December 2020 and get the seal of approval from EU heads of state at the EU Summit later this week. Fixed income responded positively to equity market weakness, but the market remains very range bound ahead of the FOMC meeting, which starts tomorrow. In the absence of any material data releases, there was little for markets to latch onto.

The USD weakened modestly across the board, possibly reflecting the bid in fixed income. The yield on the US 10-year note was unchanged at 2.84%. At the time of writing, the S&P 500 index is off 1.7%, and the Nasdaq down 2.3%, led by Facebook (down 7.0%). Earlier, the DAX was off 1.4% and the FTSE 100 was down 1.7%, underperforming possibly due to sterling’s strength as a result of the Brexit transition agreement with the EU. WTI dropped sharply before recovering to be down 0.6% at USD62.0/bbl, while gold is currently up 0.3% at USD1317.9/oz."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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