Headlines:
Markets:
- JPY leads, USD lags on the day
- European equities lower; S&P 500 futures down 0.5%
- US 10-year yields up 0.7 bps to 4.447%
- Gold flat at $2,567.24
- WTI crude down 0.3% to $68.48
- Bitcoin up 1.8% to $89,798
The dollar is seen cooling off in European trading today, taking a bit of a breather after the bustling gains this week.
There wasn’t much to it as it looks to be just a slight retreat after the stronger gains in the post-election period. USD/JPY notably fell from around 156.20 in Asia to a low of 155.21, before trading back to around 155.60 currently. Meanwhile, EUR/USD steadily climbed from 1.0540 to 1.0579 and is keeping thereabouts at 1.0566 now.
Even though UK Q3 GDP was a touch softer than estimated, GBP/USD did run up to a high of 1.2697 earlier before giving that back to 1.2670 now and keeping flattish. Besides that, the commodity currencies are just slightly higher with USD/CAD down 0.1% to 1.4045 and AUD/USD up just 0.2% to 0.6465 on the day.
That comes as stocks are being pressured, with S&P 500 futures keeping lower by around 0.5% throughout European morning trade.
At the balance, Trump trades are seen cooling off a bit with Treasury yields not really advancing too much and Bitcoin also holding below $90,000 still after the failure to keep above the figure level in the past two days.
The final key risk event for the week is the US retail sales data release. So, we’ll see how that adds into the mix before the weekend comes along.