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Home Market Outlook Forex Analysis Summary The pressure in the European bond market continues. The French 10-year yield is edging closer to 5.00%, and the premium over Germany is approaching 160 bp. The widening of the peripheral premiums over Germany is seeing the euro underperform.
Faster UK inflation boosted the market’s confidence of a BOE rate hike early next month, and sterling is trading at its best level against the euro since May 2025. The Australian dollar extended its gains and is at a new high for the month. US equity indices recovered from early losses, but nervousness about the AI theme saw the Nasdaq underperform.
However, favorable tech earning reports have helped lift the tone today. The large bourses in the Asia-Pacific region advanced but for Hong Kong, China, and India, with South Korea leading the way with a 3.3% rally. Europe’s Stoxx 600 is up for the first time this week (~0.5%).
Vitaliy_ph/iStock via Getty Images Fears over the AI meme, which took the semiconductor index down more than 10% last week, have stabilized with the help of favorable earnings by Super Micro Computer ( SMCI ) and SpaceX ( SPCX 17.24K Followers
Source: Seeking Alpha
