Headlines:
Markets:
- NZD leads, USD lags on the day
- European equities higher; S&P 500 futures down 0.2%
- US 10-year yields down 1.7 bps to 4.290%
- Gold up 0.4% to $2,997.04
- WTI crude up 1.3% to $68.11
- Bitcoin up 0.4% to $83,565
It was a quieter session with some decent moves in markets, albeit arguably more tentative in general.
The risk mood was softer since Asia trading with US futures slumping to start the week. That gradually got better in European morning trade though, with S&P 500 futures even paring losses briefly during the last hour.
With risk sentiment picking up a little, the dollar slipped across the board. EUR/USD nudged back up to test waters above 1.0900 again while AUD/USD is marked up by 0.4% to 0.6350, contesting its 100-day moving average. USD/JPY is down slightly to 148.47, coming off earlier highs just above 149.00 at the start of the session.
European indices are also seen posting a decent advance, following a more tentative start. The DAX remains one to watch, with the vote on the German debt deal coming tomorrow. The German benchmark index is up another 0.3% now after the Friday bounce.
S&P 500 futures were down as much as 0.7% earlier before briefly turning flat, then now back down by 0.2%. That’s a decent showing by dip buyers early on but there is much more to come later in the day.
US retail sales is one to watch alongside more Trump headlines on trade surely. So, that might still yet dampen the mood in Wall Street after last week’s selling – which marked a fourth straight week of drop for US indices.
In other markets, gold is nudging higher and looking to reclaim a push back above $3,000 to start the new week. So, do keep an eye out on that as well.
