• NZD leads, CHF lags on the day
  • European equities a little higher; S&P 500 futures up 0.3%
  • US 10-year yields up 7.3 bps to 4.701%
  • Gold down 0.8% to $1,915.09
  • WTI crude up 0.1% to $87.82
  • Bitcoin up 2.8% to $27,737

There wasn't much in terms of major headlines in European trading today as the Israel-Hamas conflict continues to rage on. But the fears surrounding it are abating slightly, as the two big movers were gold and Treasuries as both were offered during the session.

Gold fell down by over 1% at one point to $1,908 but is now keeping lower still by roughly 0.8% to $1,915 on the day. Meanwhile, 10-year Treasury yields slowly advanced from 4.67% to 4.70% now after an opening gap higher amid some unwinding of the flight to safety from Friday.

That being said, there were not any much bigger retracements elsewhere with US futures hanging on to tentative gains after a bit of back and forth during the session. Then, we have oil which remains flattish as traders are still sorting out the outlook after US president Biden warned that any Israeli occupation of Gaza would be a 'big mistake'.

As for major currencies, the dollar is seeing a mild retreat but nothing to really shout about. EUR/USD is up 0.2% to 1.0530 while USD/JPY is flattish at 149.55, so there isn't much for traders to really get excited about.

The big mover is the kiwi with NZD/USD up 0.6% to 0.5920 and held gains throughout after the opening gap higher, following the NZ election results here.