European equities keep steadier so far on the session

Author: Justin Low | Category: News

The market is not interested in committing to anything until we get to Powell and Biden's speeches later today

The DAX is up 0.2% as European indices in general are posting slight gains but overall keeping little changed. Meanwhile, S&P 500 futures are up 0.1%, Nasdaq futures are down 0.4%, and Dow futures are up 0.3% as value stocks and small caps lead.

Elsewhere, 10-year Treasury yields are back up closer to the Asia Pacific highs around 1.11% currently after seeing hovering around 1.09% earlier in European trading.

In the currencies space, there isn't much action as the dollar trades mixed but little changed for the most part. Commodity currencies are keeping a slight advance but aren't really going anywhere so far on the session.

EUR/USD is trading narrowly around 1.2150-60 levels while AUD/USD is holding above its key hourly moving averages of 0.7736-41 but not testing overnight highs near 0.7780.

Meanwhile, gold is still keeping slightly lower as price action continues to center around its 200-day moving average as it trades around $1,840 levels for now.

All eyes remain on Powell and Biden's speeches later today so that will be the two key risk events to really shape up how the market will react ahead of the weekend.

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