Headlines:
Markets:
- USD and CAD lead, JPY lags on the day
- European equities lower; S&P 500 futures up 0.6%
- US 10-year yields up 5.5 bps to 4.303%
- Gold down 1.0% to $2,887.82
- WTI crude up 1.1% to $69.35
- Bitcoin up 2.3% to $86,465
We’re still in that month-end trading phase and it’s tough to scrutinise too much into the early day market moves amid the lack of headlines.
The dollar is keeping steadier across the board, with USD/JPY in particular leading the way in a push to 149.50-70 levels during the session. That is helped by a rebound in Treasury yields, with 10-year yields climbing back to 4.30% after testing its 200-day moving average of 4.24% on the week.
Besides that, most other dollar pairs are little changed though USD/CHF is also seen up 0.4% to 0.8980 despite European indices pulled lower today.
The overall risk mood is a better one though, with US futures pointing higher after Nvidia’s earnings beat. The chip giant is seeing shares up around 1% in pre-market trading now, helping to ease some of the concerns for equities earlier in the week.
In other markets, gold is down by roughly 1% as it continues to struggle after the break in the technical battle lines earlier this week here. The drop sees the precious metal now fall to $2,887 and is poised to end the weekly win streak of eight weeks for gold.
Looking ahead, the weekly US initial jobless claims is one to be wary of in terms of economic data releases. Otherwise, the focus will be on month-end flows as well as more Trump headlines before the final day of the week/month tomorrow.