Headlines:
- Dollar keeps more mixed amid tentative mood so far in European trading
- BOE's Bailey: Outlook for inflation is uncertain
- BOE says that full impact of higher rates will take time to come through
- BOJ shares details of its first monetary policy review workshop held on Monday this week
- BOJ's Himino: Don't have a preset schedule in mind on exit from easy policy
- No specific prediction on how BOJ can judge sustained achievement of price goal - Himino
- Germany October industrial orders -3.7% vs +0.2% m/m expected
- Germany November construction PMI 36.2 vs 38.3 prior
- Eurozone October retail sales +0.1% vs +0.2% m/m expected
- UK November construction PMI 45.5 vs 46.3 expected
- US MBA mortgage applications w.e. 1 December +2.8% vs +0.3% prior
Markets:
- NZD leads, EUR lags on the day
- European equities higher; S&P 500 futures up 0.2%
- US 10-year yields up 1.5 bps to 4.185%
- Gold up 0.4% to $2,027.05
- WTI crude down 0.9% to $71.66
- Bitcoin up 0.5% to $44,097
It was a rather sideways session as the dollar is keeping steadier but mixed across the board, with light changes for the most part. This comes as stocks are looking slightly more enthusiastic while bond yields are also holding up after the fall yesterday.
That being said, markets look to be waiting on the US ADP employment data to come before really getting the day started I would say.
The greenback is little changed against the European currencies, with EUR/USD sitting below 1.0800 amid large option expiries at the figure level. USD/JPY is also lightly changed, up just 0.1% to 147.30 on the day.
The commodity currencies are sitting higher, with USD/CAD down 0.2% to 1.3560 and AUD/USD up 0.4% to 0.6575 currently. The better risk mood seems to be helping out as European stocks look to push higher with the DAX at record highs.
All eyes now turn towards the US ADP employment data to see what that has to offer ahead of the non-farm payrolls report on Friday.