The dollar is leading gains in trading so far today

But the dollar is also keeping firmer against the rest of the major currencies bloc as equities stay more defensive in European morning trade. The DAX is down by 1% and we are also seeing S&P 500 futures down 0.9% and Nasdaq futures down 1.2% currently.

It is a mixed picture in the market as the chaos from meme stocks continue to impact broader sentiment in equities but the bond market is brushing that aside.

10-year Treasury yields are up by 2.6 bps to 1.07% on the session.

Going back to FX, EUR/USD is keeping a little weaker but stays in no man's land for now:

The push higher in the pair during US trading yesterday met resistance from the key hourly moving averages and since then, the pair is holding closer to 1.2100.

Key downside support is still seen closer to 1.2059-63 and that keeps buyers in the game for now. However, near-term resistance @ 1.2130-37 is still limiting gains for now.

Elsewhere, NZD/USD is also facing resistance from key near-term levels with the 200-hour moving average limiting gains closer to 0.7178 today.

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