The dollar is trading more mixed at the moment, sitting a little higher against the euro and flattish against the pound while being down against the yen and commodity currencies currently. It seems like traders are finding it tough to gather any real conviction so far today and with good reason. All eyes are on Fed chair Powell's speech/interview later today.
Will Powell make mention of the hot US jobs report on Friday? Will Powell stick to the softer stance that he adopted last week? Will Powell make any presumptuous comments about AI? Those are very big known unknowns that markets are waiting for.
Meanwhile, bonds and equities are mostly little changed with S&P 500 futures now also trading flat again. That isn't giving much for European traders to work with to start the session.
One of the bigger movers so far today is oil, in which we are seeing WTI crude be up 2.4% to $75.90 at the moment. A Goldman Sachs note overnight coupled with supply worries after the Turkey earthquake are factors in play following a choppy start to the new year for oil prices.
