Risk sentiment fares better in trading today
US equities had a more volatile session yesterday while European indices closed near flat levels for the most part as the risk mood was still all over the place at the time.
Going into today, things are looking much calmer as Chinese stocks push higher while Asian equities in general are faring better alongside US futures.
S&P 500 futures are up near the highs around 0.4% while Treasuries are also keeping calmer and staying little changed ahead of European morning trade.
For Chinese equities, thinner volumes are at play today so the rebound may not look as impressive as it is on paper, so there’s that to consider going into next week.
Elsewhere, the dollar is seen on the back foot as it surrenders some of its overnight gains with AUD/USD up 0.5% to 0.7620. The overall momentum hasn’t shifted all too much as the dollar is still looking poised with EUR/USD keeping below 1.1800.
But yen crosses are starting to see some potential for a turnaround. AUD/JPY is up for a second straight day as buyers are now looking to seize back near-term control and testing waters above its 100-hour moving average at the moment: