Europe opens mixed as gold and silver surge, Brent slumps and the euro firms
Executive summary: European markets opened with a split tone, as the DAX and CAC 40 edged higher while the FTSE 100 and Euro Stoxx 50 slipped. The biggest cross-asset moves came in commodities and FX, with Brent crude tumbling more than 11%, gold and silver jumping sharply, and sterling and the euro both firmer against the dollar. The pattern points to a market that is rotating toward defensive assets while pricing in a softer oil backdrop and a weaker dollar. [Continue Reading]
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