Europe Market Open: Softer trade given US absence & a smaller-than-expected PBoC 5yr LPR cut
20 Jun 2023, 06:25 by Newsquawk Desk
- APAC stocks were mostly lower in the absence of a lead from Wall St and as markets digested the PBoC’s cuts to its benchmark lending rates.
- As expected, China lowered its 1-year LPR after similar cuts to short-term funding rates but disappointed those anticipating a deeper 15bps cut for the 5-year LPR.
- European equity futures are indicative of a flat open with the Euro Stoxx 50 unchanged after the cash market closed down 0.7% yesterday.
- DXY...