Headlines:
Markets:
- AUD leads, GBP lags on the day
- European equities higher; S&P 500 futures up 0.5%
- US 10-year yields down 1 bps to 4.306%
- Gold down 0.1% to $1,989.82
- WTI crude flat at $77.90
- Bitcoin up 4.1% to $51,630
There was no significant follow through to the post-CPI moves yesterday in trading so far today.
The dollar is seeing gains kept in check as bond yields failed to scale higher during the session. 10-year Treasury yields hovered near 4.30%, keeping just below its 100-day moving average of 4.34%. That seems to be keeping a lid on things for the time being.
EUR/USD flirted with a drop below 1.0700 briefly but is still questioning the downside break below the December lows yesterday. Meanwhile, USD/JPY was more sideways around 150.40-60 amid some verbal jawboning by Japanese officials.
The pound was a decent mover though, with GBP/USD falling from 1.2600 to 1.2535 and holding just above that now. It comes after a miss on estimates in UK inflation data. That being said, the details continue to reveal sticky services inflation and that is likely to see the BOE retain the status quo.
In other markets, stocks are making up some decent ground as well on the session. US futures are sitting higher with tech stocks leading the charge once again, hoping to cut back some of the losses from yesterday.
Besides that, Bitcoin is ripping higher once again as it climbs above $51,000 as the hype builds ahead of the expected halving in April.