Mixed flows so far in European morning trade | Forexlive
It’s a quieter and slower start to proceedings even with the more buoyed mood in equities. Not much has changed after the open with European indices still holding decent gains on the day with S&P 500 futures still up by 0.7% and Nasdaq futures up by 1.3% currently. Nvidia remains the story there, helping to boost the mood in tech shares.
In FX, it’s a mixed one with the dollar sitting higher against the yen, aussie and kiwi while little changed elsewhere. USD/JPY is up to 145.25 though Treasury yields are looking more tentative on the day thus far.
USD/JPY daily chart
Buyers will be hoping to keep a push back above 145.00 to resume the upside potential but just be wary of bond market developments. That remains the key driver for now. For today, there are large expiries at the figure level to consider as well in attracting price action.
The surprise has been the antipodeans as they are sitting lower despite a more positive mood in stocks. But equities seem to be largely driven by copium/hopium flows on Nvidia more than anything else. Oil is also down 0.4% on the day to $78.60 in a sign that broader markets are not quite sharing the enthusiasm, at least not yet.