The risk mood keeps more positive so far on the sessionECB's Makhlouf says not going to comment on April rate cutECB's Cipollone: Inflation target may be reached sooner than last projections indicatedBOJ governor Ueda says will conduct appropriate monetary policy to achieve 2% price targetFrance March flash services PMI 46.6 vs 46.3 expectedGermany March flash manufacturing PMI 48.3 vs 47.0 expectedEurozone March flash services PMI 50.4 vs 51.0 expectedUK March flash services PMI 53.2 vs 50.9 expectedChina reaffirms to implement more proactive fiscal policy in 2025
Markets:
AUD leads, JPY lags on the dayEuropean equities higher; S&P 500 futures up 1.1%US 10-year yields up 4.6 bps to 4.298%Gold up 0.1% to $3,027.34WTI crude up 0.7% to $68.75Bitcoin up 1.7% to $87,576Of note, risk sentiment is on the up as the countdown to Trump's tariffs on 2 April continues. The news over the weekend was that we might see a more positive turn as noted here and that is helping with the overall risk mood.
The French and German PMI data didn't really offer too much amid a contrast between the manufacturing and services sector. Overall, business activity remains little changed compared to last month and that is keeping things in check ahead of the ECB decision in April.
Besides that, the yen is the laggard as bond yields are also keeping higher on the day. USD/JPY is marked up by 0.3% to 149.70 currently.
In other markets, gold is keeping steady around $3,027 while oil is keeping a modest bounce off its September 2024 lows from earlier this month as WTI crude trades up to $68.75 now.
This article was written by Justin Low at www.forexlive.com. Read More Details
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