Markets:

  • NZD leads, JPY lags on the day
  • European equities lower; S&P 500 futures +0.16%
  • US 10-year yields down 13 bps to 3.902%
  • Gold down 0.35% to $2,463
  • WTI crude up 0.24% to $79.84
  • Bitcoin down 0.97% to $58786

The main highlight in the European session was the release of the UK jobs report where we saw a notable improvement in the unemployment rate although the data continues to suffer from reliability issues.

We’ve also got the German ZEW survey which surprised to the downside posting the biggest decline in the past two years. In contrast, the situation indicator for the eurozone improved marginally.

The focus will now switch to the US PPI figures and Fed’s Bostic, but the main event comes tomorrow when we will get the US CPI report.