Titles:
Markets:
- The US dollar and Japanese yen advance, and the Australian dollar lags during the day
- European stocks fall slightly; S&P 500 futures rise 0.1%
- The yield on US 10-year bonds fell by one basis point to 4.346%.
- Gold fell 0.1% to $2,382.71
- West Texas Intermediate crude rose 0.1% to $78.70
- Bitcoin rose 0.3% to $66,181
There was no follow-up post CPI as markets took on a more hesitant mood in European morning trade.
The dollar rose slightly on the day, supported by higher Treasury yields. 10-year yields fell to 4.31% early but are now back above 4.34%, settling above the 200-day moving average of 4.33%. It's a major turning point for bonds, as traders await US weekly unemployment claims next.
The USD/JPY pair in particular has rebounded by 100 pips in a move from 153.90 to 154.90 currently. Meanwhile, EUR/USD and GBP/USD fell 0.2% to 1.0864 and 1.2655, respectively.
Since risk trades also did not see any follow-through, commodity currencies are also feeling a little shy at the moment. AUD/USD fell 0.3% to 0.6670, weighed by the weak Australian jobs report earlier. USD/CAD rose 0.2% to 1.3633, rising steadily from a low of 1.3590 earlier in the day.
In stocks, European indices appear more hesitant, while US futures are also little changed. This does little to improve the overall mood as we look ahead to the next session.
It's now up to see if weekly unemployment claims will spring any surprises or if we're about to turn around on Thursday.