Headlines:

Markets:

AUD leads, EUR lags on the day
European equities barely decrease; S&P 500 futures flat
US 10-year yields up 3.4 bps to 4.128%
Gold up 0.2% to $2,025.89
WTI crude down 0.7% to $74.25
Bitcoin down 2.3% to $38,903

The Japanese yen was an lively mover on the session because it gained early on the again of BOJ governor Ueda’s press convention remarks. Ueda modified his tone from beforehand as he talked up confidence in reaching the two% inflation goal, just about teeing up a coverage transfer in the course of the spring.

USD/JPY fell from 148.00 to a low of 146.97 earlier than recovering all the way in which again as much as 147.90 ranges now within the aftermath. If that’s any indication, it tells the story that merchants should not going to purchase into any tentative BOJ story and danger getting burned once more – as was the case all through 2023.

Within the case of USD/JPY, the 100-day transferring common at 147.50 stays in play and so that’s the key technical stage to observe for now.

Amid the autumn in USD/JPY earlier, the greenback additionally slipped throughout the board however has greater than recovered amid a push larger in bond yields as properly. EUR/USD was as much as 1.0915 earlier than conserving round 1.0860 now whereas USD/CHF was right down to 0.8650 however is now buying and selling to 0.8690 on the day.

The aussie and kiwi are holding a slight advance however they have been a lot stronger in Asia buying and selling after China is claimed to be planning a ¥1 trillion backstop to save lots of the inventory market. AUD/USD was as much as a excessive of 0.6612 earlier than fading to round 0.6588 on the day, nonetheless up 0.3%.

Within the equities house, shares are conserving extra cautious with US futures little modified whereas European indices are barely decrease after a mildly constructive begin. In different markets, Bitcoin is one drawing some consideration because it stumbles by over 2% in a drop under $39,000 after having cracked below the $40,000 mark in a single day.