Headlines: Markets: EUR leads, AUD lags on the day European equities lower; S&P 500 futures down 0.5% US 10-year yields up 5.1 bps to 4.232% Gold down 0.3% to $1,901.09 WTI crude down 1.0% to $81.69 Bitcoin down 0.1% to $29,331 China was in the headlines once again, performing three rate cuts in one day
Headlines: Markets: GBP leads, NZD lags on the day European equities lower; S&P 500 futures flat US 10-year yields up 2.2 bps to 4.103% Gold up 0.3% to $1,918.65 WTI crude up 0.6% to $83.33 Bitcoin down 0.1% to $29,392 It was a quiet session as we observed yet another typical summer’s day in Europe.
There was some FX movement during the session here even as traders looked ahead to the US employment report due later on Friday. AUD and NZD were out-performers awaiting a news conference called in China by the State Planner, the National Development and Reform Commission of the People’s Republic of China (NDRC), and the People’s
USD/JPY had a sharp fall in very early Asia, dropping from circa 139.50 to lows under 138.90. The swings didn’t finish there, with lows for the session (as I write) under 138.75 before a move back up to above 139.50. Speculation swirled of a Bank of Japan ‘tweak’ to its yield curve control program. Yen