Moody markets! (Ugh, terrible pun, apologies 😉 …. Friday bombshell: Moody’s downgrades US credit rating )
Equity index futures:
- ES down 0.7%
- NQ down 0.9%
For bonds,
- 30 year T futures down 21 ticks
- 10 year down 7 ticks
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Big gap down for S&P 500 futures. This chart is a CFD that tracks ES futures.
The weekend didn’t bring any good news:
- The weekend news hasn’t been great for market confidence
- UK PM Starmer expected to announce Brexit ”reset” deal on Monday. (Is Brexin the word?)
- Australian PM Albanese says he’s “up for a deal” with Europe on free trade
- ECB’s Lagarde:EUR/USD up justified by the uncertainty & loss of confidence in US policies
- European Central Bank Board Member Schnabel cautious on a June ECB rate cut
- ECB’s Kazaks: Rate cuts may be nearing end, but outlook still uncertain
- Friday bombshell: Moody’s downgrades US credit rating
Since then, a positive for the euro from Romania:
- Romanian centrist Presidential candidate ahead with 54.3% after 97% of votes counted
- Weekend: Bessent threatens tariff rates to return to ‘reciprocal’ levels if no trade deal
- Former President Joe Biden was diagnosed with an “aggressive form” of prostate cancer
This article was written by Eamonn Sheridan at www.forexlive.com.
