Headlines:

Markets:

  • JPY leads, USD lags on the day
  • European equities mixed; S&P 500 futures down 0.1%
  • US 10-year yields up 0.9 bps to 3.519%
  • Gold down 0.3% to $1,796.68
  • WTI crude up 0.7% to $81.81
  • Bitcoin up 0.6% to $17,032

It was a quiet session for the most part as markets geared towards the final key risk event of the week - the US non-farm payrolls.

Equities and bonds were tentative for the most part, with the latter not doing much after yesterday's rally. But the dollar remained sluggish and for the most part, with USD/JPY observing a sharp fall in European morning trade.

The pair fell from 135.10 to a low of 133.64 before keeping just above 134.00 now, though the notable thing about the move was that price broke below its 200-day moving average of 134.49. That puts sellers in a strong position going into the US jobs report later.

Elsewhere, the dollar is keeping little changed against the euro, pound, loonie and aussie but the technicals are rather poor for the greenback as we look to close out the week.

If the jobs report later underwhelms, it could yet set off another extended drop in the dollar and spark another risk rally before the week comes to a close.