It has been a quiet one by way of motion in European buying and selling immediately. The greenback is regular as main currencies are exhibiting little or no urge for food, with most greenback pairs seeing lower than 10 pips change in the meanwhile. It’s only USD/JPY which is up barely to 150.71, helped by barely increased yields.
In addition to that, there actually is not a lot to work with on the session to this point. Danger tones are extra muted as properly with European indices seeing mild modifications whereas US futures are flattish. It looks as if shares are consolidating beneficial properties for now after the surging run increased yesterday.
Going again to FX, EUR/USD remains to be retaining just below its 200-day transferring common of 1.0827 for now. Equally, AUD/USD additionally tried a run above its personal 200-day transferring common yesterday solely to fall quick amid the greenback reversal as properly. The pair now trades little modified at 0.6559, under the important thing technical degree at 0.6561.
As we glance to wrap issues up on the week, do keep an eye out on the bond market. 10-year Treasury yields are up 1.6 bps to 4.342% and that’s simply above its 100-day transferring common of 4.327% presently. Additional promoting in bonds after we get to US buying and selling might encourage some broader market strikes earlier than the weekend.
