The dollar is keeping steadier as we get things underway in European trading today, as traders look to reassess things after the moves at the end of last week. We saw the greenback retreat slightly with the commodity currencies in particular battling back from a technical perspective on Friday as seen here.
For today, the changes are light thus far with the likes of EUR/USD keeping in a 18 pips range mostly. USD/JPY is also sticky around 148.00 with large option expiries at the figure level also in play. That is not to mention the lack of action in the bond market to start the week. 10-year yields in the US are little changed, hovering around 4.126% at the moment.
There isn’t any major data releases coming up later in the day as well, so that is going to make for a more tentative start to the week. The only movers so far today are stocks, which are looking a little buoyed after the rise in Wall Street on Friday. In the commodities space, gold is down slightly to $2,022 but silver is down some 2% on the day to $22.15 – its lowest level since mid-November as it looks to threaten another test of the $22 mark.
Elsewhere, Bitcoin is down another 1.5% today to just under $41,000 as the fallout after the ETF launch continues.