Headlines:
Dollar on steadier footing to kick start what will be a big week for marketsJapanese yen stays in the spotlight with the BOJ coming up later this weekUSD/JPY Technical Analysis – The pair bounced on the key 152.00 supportUK June mortgage approvals 59.98k vs 60.40k expectedUK July CBI retailing reported sales -43 vs -24 priorJapan top council urges government, BOJ to be mindful of weak yen when guiding policy
Markets:
USD leads, GBP and NZD lag on the dayEuropean equities mostly higher; S&P 500 futures up 0.4%US 10-year yields down 4 bps to 4.158%Gold up 0.1% to $2,388.23WTI crude down 0.6% to $75.52Bitcoin up 3.2% to $69,629
It was mostly a quiet session as markets are gearing up for a big week ahead.
The dollar is keeping on steadier footing, seen slightly higher across the board. USD/JPY was swingy in Asia but steadied mostly in European morning trade, hugging around 153.70-90 levels.
Besides that, the greenback posted a slight advance with GBP/USD falling to 1.2805 before keeping around 1.2820-30 levels now – down 0.4% on the day. EUR/USD is also softer, down 0.3% to 1.0820 while commodity currencies are marginally lower as equities are in a better mood today.
US futures are up but it’s early in the week to say anything about it, that especially with big earnings reports coming up. Four of the Magnificent Seven will be reporting and that will be one to watch for broader market sentiment, alongside the BOJ, Fed, and BOE meetings.
Elsewhere, Treasury yields are down on the day and that’s making for a bit of a mixed start to the new week with gold just marginally higher while oil is down despite Middle East tensions.
This article was written by Justin Low at www.forexlive.com.
