FX little changed on the day, risk tones steady
Major currencies are keeping in relatively narrow ranges as we look towards European trading, with the dollar holding more mixed. If anything else, it could be a bit of a push and pull start to the new week until we get to the US CPI data tomorrow.
Elsewhere, 10-year Treasury yields are down 0.7 bps to 1.334% while US futures are up slightly by roughly 0.2%, helping to provide some calm to sentiment for now.
In Asia, Chinese tech stocks aren’t enjoying a good time with Alibaba sent lower amid a report that Beijing wants to break up Alipay, and EV stocks are also suffering after a warning by local authorities that there are “too many” EV makers in China.
The Hang Seng is down nearly 2% on the day but mainland stocks are sitting more mixed with the Shanghai Composite up marginally by 0.1%.