The dollar is keeping more mixed and little changed as we get things going on the session, after a bit of a push and pull in trading yesterday as well. 10-year Treasury yields are down by 2.7 bps to 4.205% and that is keeping broader market sentiment in a better spot for now, though we are still in the early stages of the day.
All eyes are on key central bank meetings in the coming two weeks and that will keep markets preoccupied in trying to anticipate and work out the big picture narrative. Will we continue to see rates move higher alongside the buy dollar, sell everything else mood? That will be the main question that needs to be answered.
For today, there will be little to shift the focus away from the waiting and wondering. I shared some thoughts on equities/risk sentiment here and we will have to continue to do a bit of dancing before we get to the ECB and BOJ later this week.
0800 GMT – Germany October business climate index
1000 GMT – UK October CBI trends total orders
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.