Headlines:
A quiet session so far in European morning tradeGold pares weekly advance as buyers lose some near-term momentumWeekly update on interest rate expectationsECB’s Kazaks says doesn’t see a case for rates to fall below neutralGermany October Ifo business climate index 86.5 vs 85.6 expectedEurozone September M3 money supply +3.2% vs +3.0% y/y expectedFrance October consumer confidence 94 vs 94 expected
Markets:
GBP leads, NZD lags on the dayEuropean equities mixed; S&P 500 futures up 0.3%US 10-year yields down 1.2 bps to 4.190%Gold down 0.4% to $2,724.44WTI crude up 0.6% to $70.65Bitcoin down 0.1% to $68,073
It was another quiet session in Europe today and befitting amid the lack of significant headlines all week during the session.
With little catalysts to work with and the bond market taking a breather, broader markets were left to fend for themselves again. And it didn’t amount to much really.
The dollar kept steadier across the board, keeping in narrower ranges for the most part. USD/JPY dipped to a low of 151.45 in the handover from Asia before climbing back up to 152.00 and then now back to flat levels at 151.85.
Besides that, the action among major currencies was rather lackluster with light changes observed.
In the equities space, US futures are slightly higher but the mood in Europe was rather dour. European indices are keeping mixed and little changed, not offering much during the session.
Commodities were more interesting with gold paring its weekly advance but it has been a back and forth period for the precious metal during the week in general.
All in all, we’ll have to look to next week for more clues as markets were not too interested to offer much this week. That considering the lack of key economic data releases. Have a great weekend, everyone.
This article was written by Justin Low at www.forexlive.com.
