Euro, sterling in retreat mode to start the new yearWhat will major central banks be up to in January?ICYMI: China has adjusted its yuan basket weightings for this yearEurozone November M3 money supply +3.8% vs +3.5% y/y expectedEurozone December final manufacturing PMI 45.1 vs 45.2 prelimUK December final manufacturing PMI 47.0 vs 47.3 prelimUK December Nationwide house prices +0.7% vs +0.1% m/m expectedUS MBA mortgage applications w.e. 27 December -12.6% vs -0.7% prior
Markets:
AUD leads, GBP lags on the dayEuropean equities lower; S&P 500 futures up 0.8%US 10-year yields down 5.6 bps to 4.52%Gold up 0.8% to $2,644.13WTI crude up 1.5% to $72.79Bitcoin up 2.1% o $96,749The bond selloff has taken a pause but we're still keeping with the momentum in FX to start the new year. 10-year yields in the US are down to 4.52% as bonds and equities are both staying more bid today. S&P 500 futures are up 0.8% as tech shares lead the charge, leaving European indices behind in the dust. The DAX is down 0.1% while CAC 40 is down 0.7% after a positive start earlier in the day.
Elsewhere, gold is off to a decently hot start as well as it climbs to a two-week high of $2,644 while silver is trading back up above $29 after holding at the double bottom from the December lows around $28.80. Could this be the year where silver finally outperforms gold on the back of more industrial demand as well? We'll see.
This article was written by Justin Low at www.forexlive.com. Read More Details
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