"Buy the dip", says Morgan StanleyNasdaq Technical Analysis – Focus on this week’s data for the next directionS&P 500 Technical Analysis – Time to buy the dip?Dollar momentum quelled after the weak US jobs reportEurozone August Sentix investor confidence -3.7 vs 8.0 expectedSwitzerland July CPI +0.2% vs +0.1% y/y expectedSwitzerland July manufacturing PMI 48.8 vs 49.7 expectedSNB total sight deposits w.e. 1 August CHF 468.5 bn vs CHF 474.7 bn prior
Markets:
GBP leads, CHF lags on the dayEuropean equities higher; S&P 500 futures up 0.6%US 10-year yields up 1 bps to 4.226%Gold up 0.1% to $3,367.74WTI crude down 1.8% to $66.10Bitcoin up 0.25 to $114,431Fed rate cut odds have repriced and settled down now while equities are looking to turn the mood from "terrible jobs data means the economy is in trouble" to "terrible jobs data means the Fed will cut rates soon". The latter said with some elation of course.
In FX, things were more muted as the dollar keeps a little steadier after being washed out on Friday. EUR/USD is marginally lower by 0.1% to 1.1568 as large option expiries keep price action intact for today. Meanwhile, USD/JPY bounced around but is now back near flat levels at 147.45 with the high earlier briefly clipping the 148.00 mark.
Elsewhere, bond yields are also keeping steadier but have largely pared the early move up today. 10-year yields are now just up 1 bps to 4.225% after having extended to as high as 4.257% earlier in the day. That's keeping broader sentiment in check for a bit, especially USD/JPY.
Besides that, gold is holding steadier as well after the jump on Friday as the bulls look interested to try and make another run at the June and July highs above $3,400 before the end of summer.
This article was written by Justin Low at investinglive.com.Hence then, the article about investinglive european markets wrap calm after the storm was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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