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Risk Appetite Shows Signs of Stabilising Following Apple Earnings

CROSS ASSET
  • Risk appetite has stabilised somewhat following the solid Apple earnings posted after-market yesterday. US and European equities trade in modest positive territory this morning - but remain solidly lower on the week. Meanwhile US treasury yields are a touch higher across the curve.
  • The greenback came under pressure through the Asian session as market sentiment improved, seeing EURUSD trade to a high of 1.1048. NOK is the strongest G10 performer so far while AUD and NZD trade firmer again.
  • In EM, HUF, PLN and CZK all trade close to flat on the day while ZAR underperforms.
  • Brent crude is tracking higher so far, last above $73/bbl and 1.4% higher on the day. Still, we are still tracking around 8% lower for the week, which is the third straight week of losses.
  • The US jobs report remains the highlight ahead, with a further moderation in jobs growth to 185k expected.

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