Equities are falling to fresh lows on the day as bonds are bid across the board. It’s a typical risk-off day at the moment as the rather disappointing French and German PMI readings just adds to the misery for risk sentiment on the week.
S&P 500 futures are down 0.5% as European indices are holding losses around 0.6% to 0.9% currently. Meanwhile, 10-year Treasury yields are falling further to nearly 6 bps down at 3.742% at the moment.
In FX, the euro is the big loser after the data is out with EUR/USD falling from 1.0920 levels to a low of 1.0855 as sellers recapture near-term control of the pair as mentioned here. This puts the pressure back on a move towards the 100-day moving average (red line) at 1.0808 again after failure to get above 1.1000 this week:
EUR/USD daily chart
Meanwhile, the dollar and yen are the two main beneficiaries at the moment. The former is holding gains from earlier as highlighted here while USD/JPY is now down 0.2% to 142.85 from around 143.00 earlier in the day.