The greenback is protecting steadier thus far in European buying and selling, as danger sentiment is wanting a bit nervy to start out the brand new week. The dollar is generally greater throughout the board, solely down marginally in opposition to the Japanese yen. Within the bond market, Treasury yields are a contact greater so that’s maybe serving to to offer the dollar a bit extra of a steadying hand on the session.
10-year Treasury yields are up 2.5 bps to 4.249% at the moment. In the meantime, S&P 500 futures are down 0.3% in order that is not doing a lot to assist commodity currencies in the meanwhile.
AUD/USD is down 0.4% to 0.6645 whereas USD/CAD is up 0.4% to 1.3545 as oil costs are additionally sitting decrease on the day.
The euro continues to battle after final week’s fall, following softer inflation information which sped up ECB fee lower odds to April subsequent yr. EUR/USD is down 0.2% to 1.0863 because the retreat from the highs round 1.1000 proceed to play out for now.
There’s not a lot else to work with to start out the brand new week, as market gamers are eyeing main central financial institution selections this week and the following. Including to that would be the US non-farm payrolls and US CPI information. As such, these can be extra essential danger occasions to drive buying and selling sentiment, versus the slower tempo we’re seeing thus far.
In different markets, gold is down 0.2% to $2,067 at the moment after a surge greater earlier in the present day, which begs the query: Has gold peaked too early in the cycle?
