Headlines:
- It's going to a be a dull market until the US NFP and ISM Services PMI
- What are the Fed odds looking like ahead of the US jobs report?
- Japan looks to wear out the resolve of USD/JPY dip buyers before the weekend
- German engineering orders see stronger decline in March
- Eurozone March unemployment rate 6.5% vs 6.5% expected
- UK Final April S&P Global Services PMI 55.0 vs. 54.9 expected
Markets:
- NZD leads, USD lags on the day
- European equities higher; S&P 500 futures up 0.4%
- US 10-year yields down 1.8 bps to 4.554%
- Gold down 0.2% to $2,297.73
- WTI crude up 0.4% to $79.28
- Bitcoin up 0.7% to $59,139
It was a quiet session as markets are bracing themselves for the US jobs report coming up later.
The dollar continued to sag as yields look heavy and we'll have to see how traders will respond to that after the data later. USD/JPY remains a focus point as it trades in and around the 153.00 mark. Meanwhile, EUR/USD is up 0.2% to 1.0745 while GBP/USD is up 0.2% to 1.2559. AUD/USD is holding around 0.6580 as it looks to contest its 100-day moving average at said level.
In other markets, equities are looking optimistic but it's still early in the day as we'll have to wait and see what the data has to offer.
Elsewhere, gold is also down slightly just under $2,300 with bond yields still a little heavier after the drop yesterday.
