ForexLive European FX news wrap: Dollar mostly steady, late drop in yields | Forexlive
Headlines:
Markets:
- JPY leads, AUD lags on the day
- European equities slightly lower; S&P 500 futures down 0.1%
- US 10-year yields up 1.6 bps to 3.353%
- Gold up 0.2% to $2,023.14
- WTI crude down 0.1% to $80.65
- Bitcoin up 1.0% to $28,551
It was a rather tentative session for the most part as major currencies were more tentative before a late turn in the bond market is sparking some decent action.
We are seeing bond yields trip lower now ahead of US trading, with some watchful eyes on the ADP employment data to come.
That is weighing on yen pairs with USD/JPY slipping from 131.75 earlier to 131.40 levels now with other major currencies also losing some ground against both the dollar and yen. That comes amid a more cautious risk mood, with equities slightly more sluggish.
GBP/USD backed away from the 1.2500 mark again to hold around 1.2475 while the aussie sagged as the post-RBA fallout continues to reverberate. AUD/USD is down 0.8% to below 0.6700 and that inadvertently put a drag on the kiwi as well, which erased its post-RBNZ gains from earlier as NZD/USD fell from 0.6350 to 0.6300 on the session.
Elsewhere, gold is maintaining its composure above the $2,020 mark mostly while oil is seeing a bit more push and pull in keeping above $80 for now still.
On to the next data series ahead of the Friday jobs report then. Anyone fashion a good roulette table for the ADP draw?