Global equities sold off yesterday during the US open taking out all of Wednesday gains. Nasdaq, S&P and Dow all closed close to Wednesday's open as Biden announced a possible tax increase to the extent of 43.4%. The negativity followed through to the FTSE and the Dax but not to the extent that the US equities did, however it put a halt on the gains that the European indices made during the European session.
There was some profit taking on Gold and Silver as both sold off to close the day on $1783 and $26.13 respectively. Brent held support well on $64.19 to close the day on $65 showing some signs of a possible push higher.
The Bitcoin selloff continued as 50 000 was broken making a monthly low in the Asian session as fears of global governance in the alternative asset is causing investors to scale back on their exposure.
There was a lack of price action from the Euro post the Monetary Policy Statements as Lagarde was very dovish on the near term outlook of the European Union. There’s PMI figures being released out of Europe, UK and the US during the course of the day to keep an eye out. As the European markets opened there’s GBP and AUD strength that came in to the market as some USD and JPY weakened.
9:15am - French Flash PMI (EUR)
9:30am - German Flash PMI (EUR)
10:30 - Flash PMI (GBP)
3:45 - Flash Manufacturing PMI (USD)