The $/Y is breaking higher, and the greenback is gaining ground once again on the commodity currencies.Despite the stronger $, most metals are bouncing across the board, led by a 1% move in copper, but Silver having a meagre 40bp rebound after the smackdown yesterday.
US futures are adding some ground, climbing 25bp as retail holds its ground despite GPS.
It’s a green sea overseas, as Energy and mining companies led gains across Europe, while Bank Stocks are jumping as Bund and Treasury yields move higher.
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The biggest lagger remains Consumer discretionary, with Luxury eyeballing Richemont numbers.
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