Headlines:
Markets:
- AUD leads, CAD lags on the day
- European equities higher; S&P 500 futures up 0.4%
- US 10-year yields up 1.7 bps to 4.091%
- Gold up 0.7% to $3,650.03
- WTI crude oil up 0.9% to $63.22
- Bitcoin up 0.7% to $112,268
It was mostly a quiet session as markets are taking a bit of a breather ahead of more key US data this week.
Geopolitical tensions made headlines overnight with Poland having to shoot down drones from Russia as they crossed the western border of Ukraine. It’s not the first time that we saw the airspace get violated but it is the first time that the boundaries were pushed enough for a NATO country to take action in getting involved in the Russia-Ukraine conflict.
That being said, Russia is not making a big deal of things and keeping radio silent on the matter. So, that’s enough to say that they’re not wanting to make a fuss over the matter.
Major currencies were largely muted on the session, with little in terms of movements and conviction. The dollar is steady but remains vulnerable on the week, as we await the US PPI data later and more importantly the US CPI data tomorrow.
EUR/USD and USD/JPY are both flattish at 1.1705 and 147.45 respectively, resting within 30 pips ranges on the day. So, that sort of tells you what kind of a session it was in European morning trade.
In the equities space, stocks are staying upbeat with European indices keeping the bounce this week to push higher again. Meanwhile, US futures are also posting slight gains with tech shares leading the charge once again.
But overall, it is once again precious metals that is hogging the spotlight with gold finding bids following some profit-taking yesterday as it pushes back up to $3,650. Meanwhile, silver is also up 0.6% today to creep back above the $41 mark.