Mixed tones so far in European morning trade

The greenback continues to keep in a firmer spot so far on the day as outlined here:

• Dollar holds slightly firmer to start the session
• USD/JPY still lacking poise, all eyes on the Fed

But that looks to be more to do with the ebb and flow of things as other asset classes are reflecting more mixed tones. Equities are holding up, with European indices keeping gains around 0.3% to 0.9%. Meanwhile, S&P 500 futures are also up by 0.3% on the day.

Elsewhere, Treasury yields are more subdued in general. 10-year yields are down 1.7 bps to 1.471% currently.

And in the commodities space, gold is up 0.2% to $1,786.60 while WTI crude is up 0.2% to $71.80. The latter has seen gains pull back though from near $73 earlier in the session.

Putting everything together, the market is not really signaling anything coherent at the moment.

The main focus this week is on key central bank meetings, particularly the Fed. And until we get to that, I reckon this sort of mixed and push and pull feel will continue in the sessions ahead.