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  • USD leads, NZD lags on the day
  • European equities higher; S&P 500 futures up 0.2%
  • US 10-year yields down 4.7 bps to 3.576%
  • Gold flat at $1,877.15
  • WTI crude up 0.4% to $75.43
  • Bitcoin down 0.3% to $17,421

It was a quiet session as European trading was bereft of any major economic releases, leaving markets to fend for themselves as the focus and attention turns towards the US CPI data tomorrow.

There were some light moves after a fairly quiet period early on, though there doesn’t seem to be much coherence in the flows. Equities are slightly higher while bonds are modestly bid. However, the dollar is seen slightly firmer with the yen keeping lower alongside the antipodeans during the session.

USD/JPY moved up from 132.30 to 132.75 and is holding just below that as buyers poke and prod a little, with large expiries at 132.50 also in play at the moment.

Meanwhile, AUD/USD was firmer earlier on after the Australian CPI data, holding around 0.6925 in the handover from Asia but fell to 0.6875 as we look towards US trading now.

The euro is little changed against the greenback with the pound being slightly lower, with cable slipping from 1.2170 to 1.2110 on the session.

The bond market is one that is a bit intriguing as we see yields being dragged decently lower, reversing some of the moves from yesterday.

But the mixed movement is leading me to infer that this is all in part some tension and positioning as we look to really get the new year underway after the key risk event tomorrow.

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