US markets were relatively quiet in trading yesterday as investors continue to eye up Friday’s key inflation data with the major stock indices all grinding higher. US Treasury yields pushed higher as did the dollar against a basket of currencies but most notably against the Yen
FX looks set to dominate the focus of trader’s attention today as the Yen is now trading at 38-year lows against the dollar, having cleanly broken through the 160 level, and record levels on the crosses. The threat of intervention is now very high, and traders are expecting a volatile day in currencies if the Yen starts to move.
Traders are also expecting moves on data and central bank updates, with the Bank of England’s Andrew Bailey set to speak on the Financial Stability Report in the London session and a raft of data in the US once New York opens.
| Market | Change | Close |
| Dow | +0.04% | 39,128 |
| S&P | +0.16% | 5,477 |
| Nasdaq | +0.49% | 17,805 |
| USD | +0.4% | 106.05 |
| US Treasury – 2 Year | + 2 bps | 4.749% |
| US Treasury – 10 Year | +8 bps | 4.316% |
| Oil – Brent | +0.3% | $85.25 |
| Oil – WTI | +0.17% | $80.90 |
| Gold | -0.9% | $2,297 |
Today’s Events:
European Session
- 7.00 pm – Bank of England Financial Stability Report
- 7.30 pm – Bank of England Governor Andrew Bailey Speaks
US Session
- 10.30 pm – US Final Quarterly GDP Data
- 10.30 pm – US Weekly Unemployment Claims Data
- 10.30 pm – US Durable Goods Data
- 12.00 am – US Pending Home Sales Data
