EU Market Open: USD/JPY recoups some losses and yields moderate into NFP report

Crude futures kept afloat but with gains limited following the previous day's two-way trade and with a lack of major new geopolitical developments.USD/JPY recouped some losses after sliding as the yen recently outperformed due to intervention risks and hawkish BoJ rate hike bets.Norway's USD 2.3tln sovereign wealth fund manager has proposed an overhaul of its government bond portfolio that could see it cut its holdings of US Treasuries by about USD 80bln, as it looks to other types of debts to try to boost returns, according to FT.APAC stocks took impetus from the positive global risk sentiment and lower yield environment; European equity futures indicate a flat cash market open.Looking ahead, highlights include German Factory Orders (Jul), EZ Retail Sales (Jul), US Jobs Report (Aug), Canadian Jobs Report (Aug). Speakers include BoE Governor Bailey & ECB’s Lane.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk