ForexLive European FX news wrap: A bit of respite ahead of the US PCE report

Headlines:

Markets:

AUD leads, JPY lags on the dayEuropean equities higher; S&P 500 futures up 0.7%US 10-year yields down 1.9 bps to 4.236%Gold up 0.4% to $2,373.24WTI crude down 0.3% to $76.85Bitcoin up 3.0% to $67,231

Markets are taking a bit of a breather today, following the volatile risk selloff in the last few days.

Equities are faring better with S&P 500 futures seen up 0.7% as tech shares are finding some respite. European indices are also holding higher, with the French CAC 40 index seen up 0.9% though still largely down on the week.

In FX, USD/JPY is also keeping with the overnight bounce in a push to 154.70 from around 153.80 earlier in the session. The 100-hour moving average for the pair is seen at 154.83 and will be a key near-term level to watch before the weekend.

As we see traders sense some relief, AUD/USD is also seen higher by 0.3% to 0.6560 while USD/CHF is also up 0.2% to 0.8835 on the day. The latter fell to its lowest since March yesterday but staved off a firm break below 0.8800 at least.

In other markets, gold is also up 0.4% to $2,373 while Bitcoin is up roughly 3% to $67,231 currently.

It’s all pointing to just a bit of respite as all eyes turn to the US PCE report next. That will be the make or break for overall sentiment before we close out the week.