US 10’s are back below the 2.60% mark at 2.58% and the 2014 trendline is back acting as resistance.
US 10 year yields 08 07 2014
USD/JPY has been dragged down to the 200 dma, which it tested overnight, and it’s trying to hold above as I type.
USD/JPY daily chart 08 07 2014
It’s still all very slow going but with stocks looking shaky at the moment another bout of falls in the US could trigger a more concerted move lower.
The only data point of interest during the remainder of European hours is the JOLTS report. Considering the NFP only amounted to a 30 pip move it’s hard to picture this fairing any better.
The market is looking for 4.400m from 4.455m prior