US Market Open: Trump reiterated that the war with Iran will end soon; JPY gains following a BoJ source report, whilst the DXY is pressured alongside yields and oil prices
US President Trump said the war with Iran will end very soon and that oil prices will fall once the conflict concludes, while Saudi Arabia conducted further strikes against Houthi targets in Yemen.
The BoJ is reportedly leaning back against back-to-back hikes in October but could hawkishly adjust inflation language, according to Bloomberg.
US equity futures mixed, with the NQ underperforming as chip names continue to slip.
DXY pushed lower by higher yields; JPY outperforms following BoJ sources.
Fixed income benchmarks gain on a flight to safety and lower energy prices (Brent -1.7%).
Looking ahead, highlights include US ADP Employment Change Weekly, Existing Home Sales (Sep), OPEC MOMR. Speakers include ECB's Lane, Fed’s Barkin & Collins. Earnings from UnitedHealth, JPMorgan, Goldman Sachs, Wells Fargo, Citi, Johnson & Johnson.
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