Global market snapshot: oil prices rise again - ANZ

Analysts at ANZ explained that oil prices rose sharply in response to news that the US is pulling out of the Iran deal but other markets broadly took the announcement in their stride. 

Key Quotes:

"EUR/USD retraced its overnight dip as the FX market flip-flopped over the implications of Trump’s decision."

"It will be interesting to see if the USD can retain its recent upward momentum in the face of persistently high oil prices."

"Amidst a general absence of speakers and data, equities performed well."

"The S&P 500 is up 1.0% at the time of writing, and the Nasdaq +1%. Earlier in Europe the DAX rose 0.2% but the FTSE 100 massively outperformed, rising by 1.3% despite the preponderance of weak data recently."

"The yield on the US 10-year note is sitting at 3.00% at the time of writing, and today’s USD25bn auction yielded 2.995%, falling just short of what would have been the first 3% coupon in seven years."

"European yields were little changed." 

"At the time of writing WTI is up 3.0% (+USD2.10) to USD71.16/bbl, but gold missed its cue, down 0.2% to USD1312.5/oz."