ForexLive European FX news wrap: Markets on edge awaiting US jobs report

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/a-mixed-us-jobs-report-to-come-later-20231208/">A mixed US jobs report to come later?</a></li><li><a href="https://www.forexlive.com/news/japanese-yen-still-in-the-spotlight-amid-volatile-trading-20231208/">Japanese yen still in the spotlight amid volatile trading</a></li><li><a href="https://www.forexlive.com/news/no-intention-from-ueda-to-hint-at-timing-of-policy-change-report-20231208/">No intention from Ueda to hint at timing of policy change – report</a></li><li><a href="https://www.forexlive.com/news/uk-public-inflation-expectations-for-the-year-ahead-seen-at-33-boe-survey-20231208/">UK public inflation expectations for the year ahead seen at 3.3% – BOE survey</a></li><li><a href="https://www.forexlive.com/news/germany-november-final-cpi-32-vs-32-yy-prelim-20231208/">Germany November final CPI +3.2% vs +3.2% y/y prelim</a></li><li><a href="https://www.forexlive.com/news/eu-reportedly-considers-restarting-wto-case-against-the-us-on-steel-tariffs-20231208/">EU reportedly considers restarting WTO case against the US on steel tariffs</a></li><li><a href="https://www.forexlive.com/news/chinas-politburo-will-maintain-prudent-monetary-policy-next-year-20231208/">China's Politburo says will maintain prudent monetary policy next year</a></li></ul><p>Markets:</p><ul><li>USD leads, NZD lags on the day</li><li>European equities mostly a little higher; S&amp;P 500 futures down 0.2%</li><li>US 10-year yields up 5.1 bps 4.179%</li><li>Gold up 0.1% to $2,029.31</li><li>WTI crude up 1.7% to $70.51</li><li>Bitcoin up 0.4% to $43,565</li></ul><p>The market is looking rather pensive with the overall mood being more tentative, and understandably so. It's all about the US jobs report coming up later today and that is keeping traders on edge for now.</p><p>The Japanese yen was a big mover early in the day with USD/JPY having dropped to a low of 142.50 in Asia. But the pair is now trading back up to 144.30 levels, up 0.2% on the day, helped out by a report arguing that BOJ governor Ueda did not mean to signal any imminent change in policy timing yesterday.</p><p>Besides that, the dollar was largely steadier as narrow ranges prevailed mostly elsewhere. In the equities space, US futures are looking more tepid while European indices are hoping to wrap the week up with another day of gains.</p><p>In the bond market, Treasury yields are a little higher but it's still all to play for when we get to the non-farm payrolls release later.</p>

This article was written by Justin Low at www.forexlive.com.