It has been a quiet day in terms of news flows as it seems that traders are looking ahead to tomorrow’s US CPI numbers.
Stock markets in the US are up as the dip in bond yields have paved the way for the bulls to take centre stage.
The strong US jobs report renewed fears about further large interest rate hikes from the Federal Reserve, which is why equity markets are lower.
Sterling took a knock today because of the gloomy update from the Bank of England.
Taiwan has been in the news recently as Nancy Pelosi, the US House Speaker, arrived on the island yesterday, even though the Chinese government warned against the visit.
A mixture of worries about the health of the global economy and rising tensions between the US and China are weighing on stocks.
European stock markets closed largely flat amid low volatility. The major indices were in positive territory for much of the session but dipped just before the session ended.
It has been a choppy 24 hours in the markets as the Fed Reserve carried out a dovish hike yesterday, and today’s GDP report suggests the country is now in a recession.
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