Global market snapshot - ANZ

Analysts at ANZ explained that risk assets were supported in early trading, with President Trump opting to expand the scope of investigations by the Committee on Foreign Investment in the US, rather than invoking emergency measures to curb Chinese investment. 

Key Quotes:

"This was seen as a conciliatory step following recent tensions. However, sentiment turned negative through the New York afternoon with US equities now back in the red after Kudlow said that the US has not softened its stance on China. The S&P was down 0.6% at the time of writing."

"The USD was firmer, extending recent moves, while emerging market currencies and stocks weakened. Bond yields fell, with the US 10-year down 5bps to 2.82%, with no clear catalyst for the move. Oil was firm, after the US asked allies to stop imports of Iranian oil. WTI rose 2.8% to $72.5/bbl – a level not seen since 2014. Gold was off 0.6%."