European pre-market: Dollar mixed amid softer risk mood

Author: Justin Low | Category: News

The dollar lags against the havens, advances against risk currencies

WCRS 26-03
The moves today are relatively mild in comparison to the wild swings over the past few weeks, with the dollar keeping a little softer as it tails behind the yen, franc and euro.

The risk mood is softer as we see Asian equities keep lower for the most part while US futures are down by around 1% in anticipation of the weekly initial jobless claims report.

The anticipation is casting a large shadow over the market as we look towards the start of European trading today. Meanwhile, bonds are also bid with US 10-year yields down by 8 bps to 0.79% currently.

Risk currencies are the laggard to start the day with the aussie and kiwi unable to capitalise much on the weakness in the dollar towards the latter stages yesterday as well.

Expect the market mood to be tense and cautious as we count down to the US weekly initial jobless claims report at 1230 GMT.

It may not necessarily be something awful or something that the market will jump heavily on but as with all big events, investors will feel more comfortable getting more clarity from it before dipping their toes in the water again.

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