It’s a mixed showing so far in European morning trade, as the dollar is holding its ground despite lower Treasury yields today. 10-year yields are down 3.5 bps to 4.476%, continuing the retreat from the end of last week.
That is weighing on USD/JPY as the pair inches back to the 157.00 mark, down 0.2% on the day.
But elsewhere, the dollar is still keeping its composure overall. EUR/USD is down 0.2% to 1.0830 at the lows for the day. The price action there sees sellers back in near-term control on a push below the key hourly moving averages around 1.0838-40. The lower bound is still held closer to the 1.0800 mark for now though.
Then, GBP/USD is down 0.3% to 1.2700 and USD/CAD up 0.3% to 1.3660 levels at the moment.
In other markets, gold is flat at $2,328 while equities are maintaining slight gains but not really growing too optimistic. S&P 500 futures are still up just 7 points, or a little over 0.1%.
It’s still early in the week though as there is plenty to look forward to. Besides the BOC and ECB, the US jobs report and the run up to that release will be key items on the agenda to watch for markets.
This article was written by Justin Low at www.forexlive.com.
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