24 May 2017 at 11:54 GMT
- Better-than-forecast German consumer confidence in GfK survey lifts euro
- Moody's downgrade of China's debt rating knocks industrial metals
- Crude oil consolidates ahead of EIA weekly inventories report
- European equities mixed
German consumers are feeling happy, according
to a new GfK survey. Photo: Shutterstock
By the Global Sales Trading Team
- Germany's GfK consumer climate survey beat expectations, rising to 10.4 — the highest reading since October 2001, against analysts' expectation of 10.2. The numbers lent support to the euro.
- It's been a relatively calm FX session ahead of the Federal Open Market Committee minutes. Hints of potential rate hike in focus
- The first Moody’s downgrade of China since 1989 knocked industrial metals, including copper, lower.
- Crude oil prices are consolidating before today’s weekly inventory report from the US Energy Information Administration at 1430 GMT.
- European equities trade mixed, with basic materials and consumer goods in the red, while technology, healthcare and telecom shares advance.
Also of interest today:
Please join our head of commodity strategy, Ole Hansen, for a Commodities Update Webinar at 1130 GMT today. Click here to join.
Please click on the attached PDF for the Saxo Bank Global Sales Team's overview of the mid-session movements seen in forex, equity, FX option, commodity, and bond markets.