Dollar holds steadier so far on the sessionFrance February flash services PMI 44.5 vs 48.9 expectedGermany February flash manufacturing PMI 46.1 vs 45.5 expectedEurozone February flash services PMI 50.7 vs 51.5 expectedUK February flash services PMI 51.1 vs 50.8 expectedUK January retail sales +1.7% vs +0.3% m/m expectedFrance February business confidence 96 vs 95 priorItaly January final CPI +1.5% vs +1.5% y/y prelimRussia says no interim contact expected before Trump-Putin meetingChina says vice premier He set to have video call with US Treasury secretary Bessent
Markets:
USD leads, JPY lags on the dayEuropean equities higher; S&P 500 futures flatUS 10-year yields down 1.5 bps to 4.483%Gold down 0.2% to $2,932.89WTI crude down 0.8% to $71.94Bitcoin up 0.7% to $98,790USD/JPY is the lead gainer, up 0.5% to above 150.00 again after BOJ governor Ueda warned against "abnormal" moves in the Japanese bond market. That saw 10-year JGB yields fall and USD/JPY got a kick up from it, rising in Asia to hold above the figure level around 150.30-50 in European trading.
A stronger UK retail sales report did briefly keep sterling afloat, with GBP/USD seen around 1.2670 early on before easing to around 1.2640 as the dollar is holding its own. As for commodity currencies, they are lightly changed with USD/CAD up just 0.1% to 1.4190 levels ahead of the Canada retail sales data later and AUD/USD is down just a touch to 0.6385.
European stocks though are hoping to try and salvage their winning streak, keeping a little higher on the day. The DAX still needs to do more to claw back weekly losses, so all eyes will be on the mood in Wall Street to determine that.
As we look to wrap up the week, US PMI data will be in focus alongside more headlines from Trump himself surely. So, do be on the lookout for that before the weekend comes along. Have a good one, folks!
This article was written by Justin Low at www.forexlive.com. Read More Details
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