From Marc to Market:
Overview: The US dollar is little changed against most of the G10 currencies as the North American session is about to get underway. There were some follow-through greenback gains after yesterday's advance but limited. The dollar's rally against the yen continued. It reached almost JPY157.80 before pulling back to around JPY157.10, where it found support in Europe. Yesterday's FOMC minutes seemed to raise the hurdle to a rate cut next month, and this coupled with Nvidia's earnings and guidance helped set today's tone.
Equities soared in the Asia Pacific region. Taiwan's market led the way with a nearly 3.2% gain and the Nikkei rallied 2.6%. Only Chinese stocks, both on the mainland and in Hong Kong fell. Europe's Stoxx 600 is snapping a five-day drop and is up almost 0.80% in late European morning turnover. US index futures point to a gap higher opening on Wall Street today. A large fiscal package by Japan continues to weigh on JGB yields. The 10-year yield rose five basis points today. European yields are slightly firmer, except for Gilts, which are virtually flat. The US 10-year Treasury yield is little changed around 4.13%-4.14%. Gold is softer, near $4065, while January WTI is consolidating below $60, which is where the 20-day moving average is found....
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