Headlines:
- Mixed tones in Europe keeps markets unsettled as the weekend draws near
- Equities push a little higher on the session
- ECB's Lagarde: We expect to raise rates further
- Germans will have to prepare for more power, gas price hikes in January
- UK October retail sales +0.6% vs +0.3% m/m expected
- US VP Harris calls on North Korea to commit to serious, sustained diplomacy
Markets:
- NZD leads, CAD lags on the day
- European equities higher; S&P 500 futures up 0.7%
- US 10-year yields up 1.9 bps to 3.791%
- Gold flat at $1,760.83
- WTI crude down 0.9% to $80.94
- Bitcoin up 0.5% to $16,754
It was a quiet session for the most part with broader market sentiment keeping more mixed. The mood was more tentative early on in Europe before equities caught a slight bid and that saw the dollar also cede some ground, even with bond yields holding slightly higher on the day so far.
In terms of headlines, there weren't any major ones to really scrutinise. In the UK, retail sales bounced back in October amid a softer September - with a caveat to note amid the bank holiday observed for the funeral of Queen Elizabeth II. Besides that, there were just some qualms among APEC leaders after another North Korea ICBM launch earlier in the day.
European indices held higher since the open and increased gains as US futures also tilted higher during the session. S&P 500 futures were flattish to start with before nudging higher now by 0.7%.
That saw a slight nudge lower in the dollar with GBP/USD moving up from 1.1880 to 1.1950 before holding around 1.1910-20 levels now. EUR/USD and USD/JPY remain little changed in general, keeping at around 1.0360-70 and 139.90-10 levels for the most part.
Meanwhile, the aussie and kiwi are decent gainers with AUD/USD sitting up 0.5% to 0.6715 but still keeping under its 100-hour moving average at 0.6721 on the day. NZD/USD is the lead mover, up 0.9% to 0.6185 currently.
It's a bit of a mixed feeling for now and we will have to leave it to Wall Street to settle the score before the weekend, with a lack of key economic releases to really shift the dial and the prevailing mood today.
