Headlines:
Markets:
- USD leads, NZD lags on the day
- European equities higher; S&P 500 futures up 0.5%
- US 10-year yields up 0.8 bps to 4.305%
- Gold down 0.1% to $2,913.03
- WTI crude down 0.1% to $68.86
- Bitcoin down 0.4% to $88,345
There wasn’t any major headlines in European morning trade, as markets await the hustle and bustle in North America trading again.
The dollar is keeping slightly firmer across the board, making up for some lost ground after the softer US consumer confidence data yesterday. EUR/USD in particular is nudging back just under 1.0500, still struggling to clinch a breakout above the figure level.
Meanwhile, USD/JPY did dip lower in Asia trading but is keeping back at 149.51 currently as support from the January low of 148.63 is still holding for the time being.
Month-end flows are also a consideration, with the aussie and kiwi on the weaker side against the dollar today. In case you missed it: Month-end flows to favour the dollar – Deutsche
And that comes despite a rebound in risk sentiment as equities are nudging higher. European indices are holding solid gains above 1% while S&P 500 futures are up 0.5% with tech shares leading the way.
Nvidia earnings is the big one to watch in the day ahead but that will only come after the market close.
Elsewhere, gold is little changed but still keeping just above $2,900. However, the technical lines appear to have shifted so that’s something to take note of in case the selling picks up in the days ahead.
