• EUR leads, AUD lags on the day
  • European equities higher; S&P 500 futures up 0.4%
  • US 10-year yields up 5.5 bps to 3.179%
  • Gold up 0.5% to $1,834.32
  • WTI crude up 0.4% to $108.00
  • Bitcoin up 0.5% to $21,308

It was a quiet session for the most part as we kick start the new week. Markets are settling in with risk tones mostly calmer and leaning slightly more positive. Equities are holding higher alongside bond yields, though there wasn't much significant action in FX.

The yen was a notable mover though as it climbed down to 134.70 in Asia trading before rising back to 135.45 currently amid the better risk tones. The dollar is trading more mixed with EUR/USD holding just a touch higher at 1.0565, up 0.1% on the day, while GBP/USD initially swung higher from 1.2270 to 1.2330 only to fall to 1.2255 during the session.

The aussie and kiwi are the laggards despite the better risk sentiment with AUD/USD down 0.4% to 0.6920 and NZD/USD down 0.3% to 0.6295, at the lows for the day currently.

As much as there is better risk appetite, it is still tough to bet against the dollar in the big picture as long as the Fed continues to talk up a big game in hiking rates. But at least with money markets seeing the potential for lower terminal rates, stocks are able to find some added relief for the time being.