Sentiment a mixed bag once again as we start the EU session - FJElite

08 May 2024 07:06Energy Forex JPY Metal US Bonds US Indexes USD

Equities: North American futures are either flat or lower, Asia-Pac a bit of a mess with mostly downside across the board, while EMEA remains the outperformers (notably with the FTSE100 printing new fresh record highs earlier in the session). The VIX keeps falling to new lows so as long as that remains the case the upside grind can continue, barring any surprises of course.

Commodities: Mixed bag again with energy mixed as oil is lower but nat gas higher, precious metals mixed with gold flat but higher silver and platinum, and base metals lower by quite a margin as both iron ore and copper trade down over 1.0%

Bonds: turnaround day for bonds with downside across 2's, 5;s and 10's (yields higher), exact opposite of yesterday, my bias remains for lower yields but won't be doing so in a straight line.

FX: Mixed as well with the USD leading the majors higher and the JPY the underperformer. Little signal right now, more noise.