US equities rose, the S&P500 making a fresh record high in the wake of the Fed’s shift to an easing bias. US interest rates remained at multi-year lows, hurting the US dollar. Oil surged after Iran shot down a US navy drone.

US interest rates fell sharply after the Fed shifted from a neutral to an easing bias. The US dollar also fell, while US equities rose.

US interest rates fell sharply after the Fed shifted from a neutral to an easing bias. The US dollar also fell, while US equities rose.

US equities rose – the S&P500 up 1.1% - after headlines that US Pres. Trump tweeted that he would meet China Pres. Xi next week. The AUD and NZD were also lifted by the news. In contrast, the EUR suffered after ECB Pres. Draghi raised the possibility of interest rate cuts.

US equities rose – the S&P500 up 1.1% - after headlines that US Pres. Trump tweeted that he would meet China Pres. Xi next week. The AUD and NZD were also lifted by the news. In contrast, the EUR suffered after ECB Pres. Draghi raised the possibility of interest rate cuts.

There were mixed performance among asset classes, with US equities slightly higher, interest rates slightly lower (partly due to a couple of weak US activity surveys), and currencies mixed.

The US dollar and US interest rates bounced after strong US retail sales data. Equities remained subdued, the S&P500 down 0.2%.

Equities and the US dollar are little changed, although US interest rates slipped further as market expectations for Fed rate cuts rose.

Markets were buffeted by various forces overnight. US equities are slightly lower, weighed down by ongoing US-China trade tensions. US interest rates were weighed down by subdued inflation data. And the EUR fell after US Pres. Trump threatened sanctions on Germany.

Markets were fairly well contained overnight in the absence of any fresh news on the US-China trade front. US equities and the US dollar are modestly lower.