There were some big moves on Friday and plenty of volatility after the US non-farm payrolls came in with a strong beat. The dollar rallied as bonds were routed, while equities had a choppy one with the S&P 500 falling by over 1% before paring that drop only to slide back and close the day 1% lower.
It was quite a hectic end to the week, needless to say. Things are looking calmer today though, with the dollar keeping on steadier footing. The yen is the early mover as noted here while bond yields are also just a touch higher on the day. In the case of 10-year Treasuries, it looks like bond bears are not giving up on the 200-day moving average (blue line) in yields just yet:
Meanwhile, equities are also leaning slightly towards the softer side today with S&P 500 futures down 17 points, or 0.4%, at the moment.
Looking ahead, there won't be much on the agenda that should be too impactful as risk and broader market sentiment will stay as key drivers to start the new week.
0700 GMT - Germany December industrial orders
0830 GMT - Germany January construction PMI
0900 GMT - SNB total sight deposits w.e. 3 February
0930 GMT - Eurozone February Sentix investor sentiment
0930 GMT - UK January construction PMI
1000 GMT - Eurozone December retail sales data
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
