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Market wrap: USD strengthened against the G10 with CAD outperforming- ANZ

In a global market wrap, analysts at ANZ explained that Tech stocks (Facebook -20%) hurt the NASDAQ (-1.1%) while industrials lifted the Dow (+0.5%). 

Key Quotes:

"The S&P 500 hedged its bets (-0.2%)."

"The treasury curve is a little flatter and the USD strengthened across the board. Commodities are mixed. European bourses rose, led by Germany (+1.8%) on the back of the Trump-Juncker agreement."

"Facebook fell 20% overnight on a disappointing earnings outlook, erasing over USD120bn in market cap – more than the market cap of IBM, McDonalds or Nike. It is the largest single-day, single-stock market cap drop in US history. The US 2-year yield rose 1bp with the 10-year unchanged."

"The USD strengthened against the G10 with CAD outperforming."

"AUD and NZD underperformed. Oil rose on geopolitical risks, with WTI for near-term delivery up 0.5% at USD69.6/bbl. At the time of writing gold is down 0.6% to USD1224/oz."

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