Free Trial

MNI EUROPEAN MARKETS ANALYSIS: Yields Lower Ahead Of More Fed Speak Later

  • Jun'24 10Y have continued to grind lower all throughout the Asian session ahead of tonight’s US data and Fed speak, and tomorrow’s US Non-Farm Payrolls. With China, Hong Kong and Taiwan out, volumes have been on the low side. Futures opened the session at 109-29+, and now trades near intraday lows at 109-24.
  • The USD is 0.1% lower again during APAC trading after weakening 0.4% on Wednesday after a softer ISM services print and Fed Chair Powell saying rates will be cut sometime this year. Equities have also rallied across the region which has supported risk-sensitive currencies such as AUD, NZD and NOK.
  • Gold is little changed in the Asia-Pac session, after closing 0.8% higher at $2300.00 on Wednesday, a new record high. Bullion’s winning streak extended to seven sessions. Oil continued to move higher with Brent approaching $90 again.


MARKETS

Keep reading...Show less
2231 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Jun'24 10Y have continued to grind lower all throughout the Asian session ahead of tonight’s US data and Fed speak, and tomorrow’s US Non-Farm Payrolls. With China, Hong Kong and Taiwan out, volumes have been on the low side. Futures opened the session at 109-29+, and now trades near intraday lows at 109-24.
  • The USD is 0.1% lower again during APAC trading after weakening 0.4% on Wednesday after a softer ISM services print and Fed Chair Powell saying rates will be cut sometime this year. Equities have also rallied across the region which has supported risk-sensitive currencies such as AUD, NZD and NOK.
  • Gold is little changed in the Asia-Pac session, after closing 0.8% higher at $2300.00 on Wednesday, a new record high. Bullion’s winning streak extended to seven sessions. Oil continued to move higher with Brent approaching $90 again.