European markets eased into the new week after a quieter Friday, as the dollar found a modest firmer footing amid lingering dovish Fed sentiment.
Key moves
- EUR/USD slid 0.1% to 1.1698, near the 1.1700 option expiry.
- USD/JPY rose 0.3% to 147.30.
- GBP/USD fell 0.1% to 1.3513.
- European equities muted, while S&P 500 futures slipped 0.2%.
- US 10‑year Treasury yields edged up 1.9 bp to 4.277%.
- Gold fell 0.1% to $3,369.57.
- WTI crude climbed 0.6% to $64.15.
- Bitcoin dropped 2.1% to $111,130.
- Fed funds futures imply ~83% odds of a 25 bps rate cut, pending the 5 September jobs report.
Summary
The session reflected a cautious stance from investors as they digest the Fed’s dovish tone while awaiting the US jobs data, leading to a slight pullback from Friday’s gains and a moderate strengthening of the dollar. European stocks remained subdued ahead of the month‑end, and commodities settled near earlier intraday highs.
(Source)
