European indices fall, led by DAX and CAC 40
The dollar remains steady as European equities dip lower, driven by a decline in tech shares. The DAX and CAC 40 are both down 0.8%, while US futures are also seeing red with S&P 500 futures down 0.2% and Nasdaq futures down 0.8%.
The decline in equities comes as the conflict in the Middle East continues to rage on, keeping bond yields elevated. The 10-year Treasury yields are up 2.8 bps to 4.573%. Oil prices remain skewed to the upside, with WTI crude down 0.3% to $79.35.
The UK economy grew marginally in May, driven by a services sector bounce, while the Eurozone trade deficit widened further in May. The CAD leads, while the GBP lags on the day. Gold is down 0.8% to $4,029, and Bitcoin is down 1.1% to $64,219.
The overall mood is already starting to be unsettled as equities dip lower in European morning trade, despite softer US PPI data yesterday and a softer US CPI report from earlier this week.