Global market snapshot: trade tensions simmer away - ANZ

Analysts at ANZ explained that despite trade tensions continuing to simmer in the background risk sentiment improved overnight. 

Key Quotes:

"Equities found some support, treasury yields were unchanged, oil prices increased and the USD rose. US bourses rose around 0.5% with energy shares leading gains after the WTI rose back above $70 and Brent climbed above $72. Equities in Europe were mixed with relatively muted changes."

"The USD strengthened against all in the G10 with NZD and GBP leading declines. Global yield changes were minor with the treasury curve trading within 1bp."

"Canada’s 2-year yield rose 3.5bps with market pricing backing a BoC rate hike in July. Poloz will speak tomorrow and will likely provide further guidance."

"Oil rose, despite Saudi pledging record output in July at 10.8m barrels per day."