Headlines:
Markets:
- AUD leads, JPY lags on the day
- European equities higher; S&P 500 futures up 0.4%
- US 10-year yields up 2.7 bps to 3.598%
- Gold up 0.5% to $1,874.73
- WTI crude up 3.5% to $76.36
- Bitcoin up 1.8% to $17,247
It was a quiet session as markets slowly settled into the new week, with the dollar suffering from a hangover after last Friday’s drop following an underwhelming ISM services report.
Broader market sentiment remains slightly more upbeat, with European stocks gaining and US futures also posting a slight advance. Bonds were bid though, and higher yields helped to arrest the dollar’s decline early in the session as USD/JPY turned higher from 131.65 to 132.65 before easing back a little.
Meanwhile, EUR/USD is up 0.4% to 1.0690 as the pair takes another run at the 1.0700 mark. GBP/USD is also up 0.4% to 1.2130-40 levels, building on Friday’s bounce back above its 200-day moving average.
Elsewhere, USD/CAD is down to fresh lows since the end of November, falling back below 1.3400 while AUD/USD is breaking out to fresh highs since late August as buyers seek a push towards 0.7000 upon Friday’s technical break.
It’s a modest start to the new week but there will be bigger fish to fry in the coming days, with the US CPI data the catch to watch on Thursday.
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