The dollar is staying in search of a respite after the heavy post-CPI selloff, as we reach a checkpoint of sorts in markets right now. China headlines today isn't really helping with the risk mood either, with more lockdowns being announced - indicating that a pivot away from its zero-Covid policy approach will take some time.
S&P 500 futures are down 13 points, or 0.3%, while bond yields are flattish with 10-year Treasury yields down just 0.4 bps to 3.791% currently. Meanwhile, the greenback is posting a modest advance across the board as it continues the bounce from the latter stages of last week. I'll get into the charts in a bit but here's a quick snapshot of things:
It's going to be a quiet session with little on the economic calendar to really shake things up. Also, just be aware that trading this week will be cut short somewhat with the US Thanksgiving holiday coming up on Thursday. That will shape it to be a three-day trading week as such.
1 - Qatar becomes the first World Cup host to lose their opening game.
