It was a busy Thursday. The euro was higher after the European Central Bank cut rates by 25 basis points to 2%, with policymakers said to expect a pause at their next meeting. Across the pond, US stocks started well after a positive Trump-Xi phone call that even saw Trump accept an invitation to visit China. However, the Trump-Musk break-up then hit Tesla shares and dragged the broader market lower. Futures indicate that dour sentiment will bleed into the opening of local stock indexes. The Aussie and kiwi dollars added to their good week and should hold those gains into US jobs data tonight, given local economic calendars are pretty bare.
Grab the popcorn... as Willo mentioned, the public feud between Elon Musk and Trump is escalating. Musk said he would end use of Space Exploration Technologies Corp.’s Dragon spacecraft and called for the impeachment of the president.
A BYD Co. Dolphin Surf electric vehicle at the model launch event in Paris in May. Photographer: Cyril Marcilhacy/Bloomberg