• NZD leads, USD lags on the day
  • European equities mixed; S&P 500 futures up 0.2%
  • US 10-year yields down 3.6 bps to 3.791%
  • Gold up 0.6% to $1,747.68
  • WTI crude up 1.3% to $81.09
  • Bitcoin up 1.0% to $15,770

It was a quiet session for the most part with broader market sentiment holding up after a retreat in the past few sessions since the latter stages of last week.

Equities were steady and Treasury yields are slightly lower, keeping the dollar slightly on the backfoot as well. Despite the dollar decline, it doesn't take away from the positive technical developments yesterday so that's a testament to the lack of significant price action so far on the day.

EUR/USD is up slightly by 0.2% to 1.0260 with the high earlier touching 1.0290. USD/JPY is down 0.6% as it tracks lower from 142.00 to 141.20 levels currently. Meanwhile, GBP/USD is seen up 0.5% to 1.1875 and holding near the highs for the day currently.

With S&P 500 futures up by 0.2%, commodity currencies are holding higher as well with AUD/USD up 0.5% to 0.6640 and NZD/USD up 0.9% to 0.6150 currently. The loonie is also faring well amid a recovery in oil prices after a late bounce yesterday, with USD/CAD down 0.4% to 1.3390.

With a lack of key economic releases, trading sentiment was very much dictated by the market mood and that didn't say much during the session. Argentina's shock defeat to Saudi Arabia in Qatar perhaps distracted market participants as well towards the latter stages of European morning trade.


3 - Argentina's 1-2 loss to Saudi Arabia is their first defeat in three years, since losing to Brazil in the Copa America semi-finals in 2019.