Headlines:
- All eyes on the US CPI data later today
- Dollar steady with major currencies mostly little changed on the day
- French stocks at record high as European equities maintain the optimism
- BOJ's Uchida: Will continue monetary easing to achieve price stability target
- US MBA mortgage applications w.e. 7 April +5.3% vs -4.1% prior
Markets:
- AUD leads, GBP lags on the day
- European equities slightly higher; S&P 500 futures up 0.1%
- US 10-year yields up 1.7 bps to 3.450%
- Gold up 0.2% to $2,007.88
- WTI crude flat at $81.45
- Bitcoin down 0.6% to $30,009
It was a largely quiet session and understandably so, as markets are sitting on edge awaiting the US CPI data release later today.
There isn't much to really comment as it was a sideways session with little appetite for any market moves while there were no major economic data releases in Europe as well.
Major currencies are little changed with the dollar keeping more mixed and relatively steady, after a bit of a retreat yesterday. Meanwhile, the bond market also isn't hinting at much with Treasury yields not much changed. 2-year yields are seen around 4.05% while 10-year yields in the US are still holding just above the key threshold of 3.30% - now at 3.45% on the day.
In the equities space, there is some mild optimism as European stocks are inching higher. The CAC 40 index is at fresh record highs while the DAX itself is also trading to its highest levels for the year. The gains are modest at best though, as there is still some caution in the air for now.
All eyes are fixated on the US consumer price inflation report (and Fed minutes) to follow and that will set the tone for the remainder of the week.