S&P 500 Futures drop back to 4,100 as Treasury yields stay firmer ahead of US inflation

While portraying the mood, the US 10-year Treasury yields rise for the seventh consecutive day to 3.05%, up 1.1 basis points . Further, the S&P 500 Futures fail to keep the week-start rebound as it drops 0.46% to 4,103 by the press time.

Alternatively, Bank of Japan Governor Haruhiko Kuroda praises the economic transition and defends the easy money policies while the China eyes further unlock and GDP increase from the second part of 2022. Given the firmer yields and stock futures, US Dollar Index also takes the bids and weighs on commodities, as well as the Antipodeans. Adding to theThat said, traders are likely to remain cautious and may stay away from the riskier assets ahead of the ECB and the US CPI. However, However, risk catalysts and the US Goods and Services Trade Balance for the said month, forecast at $-89.5B compared to $-109.8B previous readouts, can entertain intraday traders.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

Source: Financial Digest (financialdigest.net)

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