Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
The U.S. Treasuries gained during Wednesday’s afternoon session ahead of the country’s ADP non-farm employment change for the month of December, scheduled to be released today by 13:15GMT and the 10-year auction, also due to be held today by 10:00GMT further direction in the debt market.
The yield on the benchmark 10-year Treasury yield fell nearly 1-1/2 basis points to 1.813 percent, the super-long 30-year bond yield slipped nearly 1 basis point to 2.298 percent and the yield on the short-term 2-year also suffered 1 basis point to 1.536 percent by 12:50GMT.
In the US, following last week’s disappointing manufacturing ISM survey for December, a key focus today will be the equivalent non-manufacturing indices. Contrasting with the marked deterioration in the manufacturing survey, the headline non-manufacturing index is expected to have largely reversed the decline seen in November to remain consistent with ongoing expansion. Final trade and durable goods orders figures for November are also due., Daiwa Capital Markets reported.
While some local headlines of Iranian sabre-rattling (suggestions of ‘thirteen retaliation scenarios’ and a ‘historic nightmare’ for the US) have given some support in the past half hour, USTs are still little changed from yesterday’s US close (10-year yields a little less than 1.80 percent), the report added.
Meanwhile, the S&P 500 Futures remained tad higher at 3,242.62 by 12:55GMT.
