Premarket: Stocks steady ahead of ECB meeting in wake of U.S. inflation selloff

Euro traders were feeling especially fragile after Wednesday’s surprise U.S. CPI figures sent the dollar on its biggest tear in over a year against the single currency by quashing hopes of near-term Fed rate cut.

Bond markets were still reeling, meanwhile, after the 10-year U.S. Treasury yield - the main driver of global borrowing costs - had shot back above 4.5 per cent, its biggest daily leap since September 2022. The currency bloc is now in its sixth straight quarter of economic stagnation and the labor market is starting to soften, an obvious contrast to the U.S. economy which continues to grow robustly.

U.S. stock futures were little changed after Wall Street had fallen around 1 per cent. Treasuries also steadied after the surge in yields had pushed them to their highest levels since November.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: Global stocks mixed ahead of U.S. inflation dataIndustrial metals prices extended recent gains on expectations of a worldwide manufacturing rebound
Source: globebusiness - 🏆 31. / 66 Read more »

Premarket: Global stocks dip, shifts in FX unsettle tradersShares struggled for traction as mixed messages from U.S. policymakers and a wobble in the Chinese yuan left traders tentative ahead of Friday’s release of U.S. inflation data
Source: globebusiness - 🏆 31. / 66 Read more »

Premarket: Stocks on inflation stand-by as intervention watch dogs yenNikkei dips, S&P 500 futures flat
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: European stocks hit new all-time highs, oil and gold gainTraders reduced their expectations for Federal Reserve rate cuts following strong U.S. manufacturing report
Source: globebusiness - 🏆 31. / 66 Read more »