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FTSE 100 holds steady with geopolitical tensions and PMI data in focus. EUR/USD stays under pressure after PMIs.

The Nasdaq index began the week with steady bullish momentum, posting a gain of just over 1.4% in the short term.

Stocks are up about 25% from the April lows and buyers are back at it today following yesterday’s pullback. The FOMC meeting for next week brings a big risk factor for the trend.

Risk appetite remained firm after the release of weaker-than-expected US inflation data, which boosted speculation that the Federal Reserve will cut interest rates sooner than expected – possibly in September instead of October – and potentially twice before the year is out.

The FTSE forecast remains positive, with the UK index supported today by a rallying Fresnillo stock, which was shining along with silver prices. Also boosting risk appetite is a potential call between leaders of the world’s two largest economy to resume trade negotiations.

EUR/USD holds above 1.14 ahead of EZ inflation data. FTSE 100 struggles as miners drop after weak Chinese data.

S&P 500 futures have rallied by as much as 24% from the April lows, right around when some financial pundits were calling for a ‘Black Monday’ type of event.

While tech stocks soar, the bond market tells a different story. The US 30-year Treasury yield has risen above 5%, which, if sustained, could potentially trigger risk-off sentiment across markets.

USD/JPY holds steady after recent gains, FOMC minutes are up next. FTSE is cautious with earnings in focus, Kingfisher ahead of the Nvidia main event

In the past two trading sessions, the Nasdaq index has recovered just over 2%, as market confidence has temporarily returned following the latest spike in trade war tensions, which proved to be only a short-lived scare.

Nasdaq 100 forecast darkens after Trump’s latest tariff threats spark sharp market sell-off. The US president targets Apple and the EU in a double-barrelled trade offensive. Meanwhile, fiscal uncertainty compounds the pressure on risk assets.