Economic News

Morning Market Overview

It’s a quieter day ahead on the European economic data, following Tuesday’s data dump. The German economy is back in focus, with retail sales for April due out. The Markets will be looking for a further pickup in spending to support the economic outlook. From the U.S there are no material stats to provide direction later in the day. The lack of stats will likely leave the European majors in the hands of the central bank chatter in the day. Gold prices fell back below the level of 1.900 level after the strength cooled on better-than-expected US ISM manufacturing data on Wednesday morning. Although the greenback gained in Asia and Europe on the rise in U.S. Treasury yields, the dollar pared intra-day gains and fell against the majority of its peers, except versus sterling due to return on risk sentiment on the rise in U.S. stocks.