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Markets are relatively steady to start the new week, with major currencies seeing light changes for the most part while US futures are a touch softer largely due to a drag in tech after more Elon Musk shenanigans over the weekend.
The kiwi is leading gains with AUD/NZD tracking back towards the lows for the year at 1.0300 while the yen is mildly softer amid higher bond yields after Friday's plunge.
2-year Treasury yields are up 2.2 bps to 0.421% while 10-year yields are up 1.6 bps to 1.469% as we look towards European morning trade.
While the dollar dropped at the end of last week, I don't see it as being a mainstay especially for EUR/USD - in which I argue that any rallies should be sold into though Friday's bounce is a very shallow one on the balance of things.
For now, sellers are still in control of the pair with the 1.1525-29 support eyed.
Elsewhere, gold is starting to come to life as it hits $1,820 and nears key trendline resistance and swing region resistance at the region of $1,832-34. That will be the key upside level to watch in the days/weeks ahead in case buyers try to make a run for it.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
