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  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.30% 🇯🇵JPY: 0.26% 🇬🇧GBP: 0.21% 🇳🇿NZD: -0.01% 🇨🇦CAD: -0.02% 🇨🇭CHF: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Q57TKC4p2W
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -1.67% Wall Street: -1.78% France 40: -2.34% Germany 30: -2.38% FTSE 100: -2.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qXVjzv7tfg
  • Fed's Mester: -Want to see more, broader progress in recovery -May end year with inflation above 2%, but falling next year -Sees upside risks to inflation forecast -Sees upward valuation pressures in equity markets -Don't see elevated market risks now, but must be attuned $SPX
  • Inflation concerns revive the reflation trade, evident in yesterday’s Nasdaq drop DAX 30 likely to face increase selling pressure as tech stocks unwind. Get your market update from @HathornSabin here:https://t.co/LH8K92N8LY https://t.co/BB2FDC9qtW
  • Hey traders! Risk aversion really picked up yesterday at the close of the session. What is in-store today? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/wJkVH4AZUY
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.49% Oil - US Crude: 0.35% Gold: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/GKaLs4uLkI
  • Heads Up:🇺🇸 Fed Williams Speech due at 14:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:🇬🇧 BoE Gov Bailey Speech due at 14:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-11
  • JOLTS US job openings soar to 8.1M, the highest reading on record and well above the consensus forecast looking for 7.5M.
  • Not a pretty picture for the Nasdaq 100 which opens to its biggest bearish gap since October 2nd. Takes out the 100-day moving average and 38.2% Fib of the March-present range. The past year's trendline support still in place at ~12,900 https://t.co/5D2YW648Nc
DailyFX European Market Wrap: Quiet Day for Equities as Investors Await FED Minutes

DailyFX European Market Wrap: Quiet Day for Equities as Investors Await FED Minutes

Katie Pilbeam,

It’s a quiet day for European equities as investors digest the news that the Chinese economy was downgraded by Moody’s which is grinding on the miners and trading floors are awaiting the minutes from the Federal Reserve's most recent policy meeting.

Apart from the news from China, there’s no real data releases to drive the markets in Europe although miners Rio Tinto and Anglo American took a hit.

British retailer Marks and Spencer’s is one of the biggest gainers on the FTSE, reporting a 64% drop in profits which the company put down to £400m of restructuring costs. Pre-tax profit for the period collapsed to £176.4m from £488.8m in the year-ago period. M&S shares hit a one-year high of 392p but are still sharply below the May 2015 high of 586p.

{ANI} A high profile court case accusing the Royal Bank of Scotland of misleading customers into supporting its rights issue back in 2008 has been adjourned until June 7th. The former CEO Fred Goodwin was expected to face questions over the bank’s collapse. But RBS then decided to settle, which has divided investors. Both sides have now asked for a formal adjournment until June 7th, to allow talks to continue.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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