Here is the snapshot of dollar pairs so far in European morning trade:
Besides USD/JPY, other dollar pairs are not showing much appetite with light changes among the other major currencies. And that is despite the more negative risk flows we're seeing in equities. S&P 500 futures are now down 0.8%, so that looks to be setting up for a softer end to October later in Wall Street. From earlier: US futures not impressed by big tech earnings so far
We might see major currencies pick up on that later in the day. But just be wary that month-end trading conditions are also a factor to consider. And that might make it tough to square up the moves in the sessions ahead. After some pushing and pulling, bond yields are now pulling back higher with 10-year US yields seen at 4.288%. So, there's that as well.
Circling back to FX, USD/JPY is the main mover as it fell on BOJ governor Ueda's remarks earlier. The follow through selling tried to firmly take out 152.00 but buyers are holding on for now. The hourly chart also shows some defense of the 200-hour moving average, keeping a more neutral near-term bias now:
Coming up, we have Eurozone inflation data for October at the top of the hour. But for broader markets, the attention turns back towards US data with the PCE and weekly jobless claims on the agenda today.
