Headlines:
Markets:
- JPY leads, GBP lags on the day
- mixed European equity; S&P 500 futures down 0.2%
- US 10-year yield down 3.4 bps to 4.658%
- Gold up 0.4% to $2,673.22
- WTI rose 0.3% to $73.56
- Bitcoin was down 1.1% to $93,409
The dollar held firmer to the balance in European morning trade, only down against the yen on the day. At the same time, the main 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 though.
Elsewhere, the dollar holds modest gains despite lower bond yields. The small bounce in bonds is helping to pin USD/JPY back down as it falls back below 158.00 to 157.70 now.
In other markets, equities are still more uncertain overall but there are still small gains in European indices to start the new year. On the commodity side, gold continues to shine brightly as it creeps up above $2,670 to its highest level in nearly four weeks. $2,700 forward?
Since it's a fake market holiday in the US, there won't be too much for traders to work with. All focus and attention will now turn to tomorrow's US jobs report. So, that's the main risk event for broader markets to end the trading week.
