Headlines:

Markets:

  • USD leads, JPY lags on the day
  • European equities lower; S&P 500 futures down 0.2%
  • US 10-year yields up 4.3 bps to 4.034%
  • Gold down 0.2% to $2,038.74
  • WTI crude up 0.6% to $72.60
  • Bitcoin down 1.1% to $43,980

For once, it wasn't that quiet of a day as we gear towards the US jobs report coming up later in the session ahead.

The corrective moves in markets this week continued in European trading today, with the dollar strengthening alongside bond yields. As 10-year Treasury yields nudged past the 4% mark, the greenback rose across the board with USD/JPY breaching the 145.00 mark to fresh three-week highs.

EUR/USD is also dragged down to near 1.0900 even as traders pare bets on ECB rate cuts for the year. Meanwhile, risk sentiment is struggling once more and that is putting a bit of a drag on the commodity currencies as well. AUD/USD is down for a sixth straight day to 0.6680 and hanging near the lows currently.

In keeping with the theme for the week, stocks just can't get off the floor as European indices are down roughly 1% after the losses in Wall Street yesterday and the more subdued mood today. US futures are also lower and that is keeping a dark cloud hanging over ahead of the US jobs report later today.

The non-farm payrolls release is going to be the main event in US trading, so we'll see what that has to offer before the weekend comes along.