February 2, 2023

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Dollar mixed, US futures steady so far on the session

1 min read

Little change in the major currencies space

It is all about the US non-farm payrolls report today as the market feels rather lethargic at the moment. The dollar is trading more mixed, holding a slight advance against the commodity currencies while trailing behind the euro and pound.

That said, changes are relatively minor with EUR/USD keeping around 1.2080-90 after ECB policymaker Kazaks talked up scaling back PEPP purchases.

European stocks are faring well, keeping a modest advance, but US futures are not doing a whole lot as they keep steady and little changed on the session.

S&P 500 futures are up 0.1%, holding thereabouts since Asia Pacific trading. Meanwhile, 10-year Treasury yields are flat on the day at 1.57% and that isn’t giving traders much to work with during European morning trade.

Tick tock. Tick tock. The payrolls data can’t come soon enough.

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