investingLive European markets wrap: Dollar steady ahead of CPI, gold drops | investingLive
Headlines:
Markets:
- USD leads, CAD and JPY lag on the day
- European equities lower; S&P 500 futures up 0.3%
- US 10-year yields up 1.9 bps to 4.008%
- Gold down 1.6% to $4,058.29
- WTI crude oil up 0.8% to $62.27
- Bitcoin up 1.3% to $111,088
The wait is finally over. We’ll get top tier US economic data later today and one of the bigger ones in the CPI report for the month of September. The BLS is making an exception amid the government shutdown on the grounds of having to calculate social security payments.
As we gear up to that, markets are keeping things interesting with the dollar holding steadier across the board. There wasn’t too much action among major currencies, with USD/JPY keeping closer to 153.00 near two-week highs as the yen remains softer this week.
USD/CAD is also seen up 0.2% to 1.4023 as Trump continues to lambast Canada on trade since overnight while GBP/USD inches down towards 1.3300 and AUD/USD back lower near the 0.6500 mark. There’s nothing to shout about for now but we’ll see if there is anything to work with later from the inflation numbers.
In other markets, equities are holding more of a mixed mood with European stocks nudging a little lower. Meanwhile, US futures are up as tech shares lead the advance but the overall risk mood will hinge on the US CPI report in wrapping up the week.
The commodities space sees gold and silver both shoved lower today as the volatile swings continue on the week. Dip buyers haven’t thrown in the towel yet though, with there yet to be another meaningful test of the $4,000 mark in gold so far in the past few sessions.
It’s all on the US CPI report now to see if that will offer up anything for market players before the attention turns back towards US-China headlines and the Fed next week.