investingLive European markets wrap: Dollar mixed, gold train continues; French respite | investingLive
Headlines:
Markets:
- GBP leads, CHF lags on the day
- European equities higher; S&P 500 futures up 0.3%
- US 10-year yields down 2.1 bps to 4.024%
- Gold up 0.8% to $4,242.13
- WTI crude up 0.8% to $58.72
- Bitcoin up 0.7% to $111,932
It was a quiet session for the most part as markets are finding some steadiness, awaiting further US-China developments. Trump is confirmed to visit South Korea on 29 to 30 October and that sets up a likely meeting with Xi Jinping, who is slated to attend the APEC Summit on 31 October to 1 November.
For now, the focus stays on that with both sides trying to find some common ground to work with ahead of the likely meeting.
In Europe, the French government survived both the no-confidence motions today and that’s helping to keep French stocks buoyed on the week. But the euro remains fairly unfazed, with major currencies not seeing too much action on the day.
The dollar is trading more mixed, with no major catalysts to work with as US data remains frozen amid the government shutdown.
EUR/USD is flat around 1.1650 with USD/JPY just marginally higher by 0.1% to 151.16 on the session. AUD/USD is down 0.2% to 0.6495 but off earlier lows of 0.6480 at least after the softer Australian jobs report.
In the equities space, stocks are holding on to some gains with US futures also nudging slightly higher. Investors are not running away with the optimism though, after having been dealt a bit of a setback yesterday in US trading. So, there is caution up in the air for now.
In the commodities space though, it’s once again all about gold as the precious metal races higher to $4,240 levels and marking fresh record highs. All aboard now! 🚂