headlines:
Markets:
- The New Zealand dollar is leading, and the dollar is lagging today
- European stocks are higher; S&P 500 futures rose 0.3%
- US 10-year yields rose 0.7 basis points to 3.655%
- Gold rose 0.3% to $1,963.53
- WTI rose 1.0% to $72.60
- Bitcoin rose 0.5% to $26,843
There wasn’t a lot of headlines during the session as European trade was characterized by a calmer, quieter mood. The Dollar saw its gains from yesterday eased slightly, but remained in a positive position overall. This comes as European indices push higher once again with the DAX currently hovering at new highs.
The positive momentum continues in the equity space after massive gains in technology on Wall Street and US futures which are also settling higher again today.
This helps at least a slight pullback in the greenback with EUR/USD back at 1.0800 but still just below the 100-day moving average at 1.0806. Meanwhile, USD/JPY moved lower touching 138.00 but is now seen at around 138.40, still down 0.2% on the day as bond yields recover from an early decline.
Amidst the more optimistic mood, antipodes are notable gainers as AUD/USD maintained a bounce from 0.6600 yesterday to remain around 0.6650 levels. NZD/USD also rose 0.8% to 0.6275, trying to rally above the 100-day moving average.
Elsewhere, gold is also seeing a slight bounce to $1,963, but still unable to break the support at $1,975-81 from yesterday.
All eyes now turn to Fed Chair Powell’s speech to end the week, so we will have to see if there is any angle to work with or if we will see a continuation of technical manipulation in the dollar.