Titles:
Markets:
- JPY leads, GBP lags on the day
- mixed European shares; S&P 500 futures down 0.2%
- US 10-year yields fall 3.4 bps to 4.658%
- Gold rose 0.4% to $2,673.22
- WTI crude rose 0.3% to $73.56
- Bitcoin fell 1.1% to $93,409
The dollar is more firmly on balance in European morning trade, only down against the yen on the day. Meanwhile, the biggest laggard is the pound as it continues to suffer in the early stages of the year.
Cable fell to 1.2300 early before falling further to a low of 1.2240 before recovering slightly to 1.2275 now. The pair is still down 0.7% on the day.
Elsewhere, the dollar is up slightly despite lower bond yields. A slight bounce in bonds is helping USD/JPY pull back as it is currently falling below 158.00 to 157.70.
Elsewhere, stocks are generally still more tentative, but European indexes still have modest gains to start the new year. As for commodities, gold continues to shine as it climbs above $2,670 to its highest level in nearly four weeks. $2,700 next?
Since it’s a pseudo market holiday in the US, there won’t be too many traders to work with. Instead, all focus and attention is now on tomorrow’s US jobs report. So it will be a key risk event for the broader markets to round out the trading week.