Free Trial

Roll Off Highs for US 10yy Relieves Major Pairs, Equities & Gold

CROSS ASSET
  • USD weakness this morning coincides with a dose of risk-on, as the e-mini S&P shows through the Monday high, as lower US 10y yields retreat off the cycle high of 4.3618% and help relieve some downside pressure on stocks.
  • Volumes across US futures have been pretty consistent through the European open, with no major spike in participation to drive the move. Tech names driving the gains across Europe, with the tech sector helped by the strong local Chinese close and making its presence felt in Europe - as mentioned above.
  • Equity gains, pullback in yields, helping push major pairs to new highs, with AUD/USD narrowing in on 0.6450, and GBP/USD finding some light resistance at 1.2800 so far. Gold also finding bottom, building off the Monday low of $1884.89 to pause the downtrend dominant across August. 200-dma just above at $1907.6.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.