Headlines:
- 5%.. Ready or not? Here we go..
- Dollar keeps more mixed so far on the day
- Japan's Kanda: It will become 'noise' if we announce every FX intervention
- Japan's Kanda: It is normal not to announce FX intervention immediately after it is done
- Japan's largest labour union says aiming for 5% wage hike or more next spring
- BOJ raises economic assessment for 6 of Japan's 9 regions in latest Sakura report
- France October business confidence 98 vs 100 prior
- Switzerland September trade balance CHF 6.32 billion vs CHF 4.05 billion prior
Markets:
- EUR leads, NZD lags on the day
- European equities lower; S&P 500 futures down 0.1%
- US 10-year yields up 6.2 bps to 4.979%
- Gold up 0.2% to $1,950.77
- WTI crude down 1.0% to $87.46
- Bitcoin up 0.6% to $28,438
It was a slower session in general as markets are waiting with bated breath for 10-year Treasury yields to hit the 5% mark. It has been the case since the handover from Asia trading, with 10-year yields hovering around 4.95% to 4.97% mostly during the session.
Despite that, the dollar is failing to take much of a hint as it trades more mixed across the board. USD/JPY is still unable to muster enough power to retest the 150.00 mark again amid Tokyo intervention fears. Meanwhile, EUR/USD is actually up 0.2% to 1.0557 although the range for the day is still rather limited.
GBP/USD is down 0.2% to 1.2115 while AUD/USD is down 0.4% to 0.6310 after a softer Australian jobs report earlier today.
In other markets, stocks are also keeping more defensive with US futures slightly lower. Meanwhile, European indices are down across the board as they build on the drop from Wall Street yesterday.
Looking to commodities, gold continues to keep steady and ignore the bond market developments as it keeps around $1,950. Meanwhile, oil is tracking lower and looks to erase its weekly gains as the back and forth continues.