US equities hit fresh record highs after earnings
Fresh record closes in the US indices last night as the Nasdaq closed 1.32% higher and the S&P 500 up 0.88% all inspired by blue-chip earnings. In the Asia Pac region,the markets were less conclusive as the Nikkei (-0.33%) and Shanghai Comp. (-0.26%) fell. Over in Australia the ASX rose just under 1% as soft CPI data made the change of an RBA rate cut higher.
In Brexit news, it has been said that UK PM May is looking to challenge the labour party to support her bill before the EU elections if cross-party talks fail.
After recovering from lows yesterday gold has once again opened the EU session lower. The precious metal trades at $1269/oz around 0.20% down so far.
Copper also continues to look weak after the hangover period kicks in following the positive change in Chinese data over the last few weeks. The industrial metal is 0.12% lower trading at $2.88/lb.
Following the announcement of US President Trump's strong Iran stance spot WTI hit a high of $66.46/bbl. Subsequently, we have now moved lower overnight to trade at $65.82/bbl. After the recent draws noted in inventory levels API's last night produced a big build of 6.900mln barrels.
Today we are on the lookout for the BoC rate decision, German IFO, DoE's and the BoC press conference.