Headlines:
Markets:
- AUD leads, CHF lags on the day
- European equities higher; S&P 500 futures up 0.2%
- US 10-year yields up 2.4 bps to 3.846%
- Gold up 0.6% to $2,461.26
- WTI crude up 0.9% to $77.71
- Bitcoin down 0.7% to $58,725
It was a session bereft of any major headlines as markets are digesting the US inflation numbers from yesterday while awaiting the retail sales data later.
Major currencies are settling into a calmer climate, with light changes overall for the most part. The euro and yen aren’t doing much with EUR/USD settling in just a 13 pips range so far today. Large option expiries may be playing a role there but USD/JPY itself is also little changed around 147.20-30 levels on the day.
The pound is slightly higher as UK Q2 GDP reaffirms some economic resilience while the aussie is up since Asia Pacific trading, buoyed by a more solid jobs report.
Besides that, the risk mood on the day is steadier with US futures sitting marginally higher currently. Bond yields are also just a touch higher with 10-year yields in the US looking to arrest a four-day drop. But it is still early in the day though, as we will have US retail sales data to work through later.
In other markets, precious metals are bouncing back with gold and silver both higher. The former is facing a triple top pattern at around $2,475-80 so it will be one to watch to see if buyers can catch a break before the weekend.
