Indices:- U.S. equity index futures are mixed following a holiday-shortened week that saw the Dow 30 (w/w +2% to 52,900) close at a fresh record high, the S&P 500 (w/w +1.8% to 7,483) not far off in percentage terms, and the Nasdaq 100 (w/w +1.4%) still above 29K; Treasury yields closed higher w/w across the mid and further end of the curve as Thursday’s softer U.S. labor data dragged down yields on the shorter end, and market pricing (CME’s FedWatch) is at roughly a coin toss on hold vs hike in September with better odds of the latter occurring in the final quarter of this yearStocks:- U.S. stock market was closedCommodities:- Gold’s rebound hits resistance at $4,200 but at least enjoyed a positive weekly finish after consecutive declines, as weaker-than-expected U.S. jobs data dampened Fed rate hike expectations and weighed on the dollar, with a somewhat similar story playing out in silver as it briefly breached $62- Relatively calm start for oil prices (WTI) hovering in the $68s this morning as OPEC+ agrees to an August output increase of 188K bpd as expected, but traders continue to note tanker traffic through the Strait of Hormuz which reportedly improved yesterday compared to the day beforeFX/Central Banks/Crypto:- Bitcoin back above $63K as weaker labor data late last week did its part in providing some relief for liquidity-related assets though the technical narrative remains a tested one even after it breached its bear trend line, while Ether outperformed in percentage terms for the week briefly breaching $1,800 again this morning and where it enjoyed inflows on the ETF front at last; Ethereum/Bitcoin briefly breaches the 0.028s again and on Saturday the ratio was at its highest in over a month- US Dollar Index still in the 100 handle this morning only partially recovering from last Thursday’s notable drop out of the 101s following the weaker NFP print that caused yields to drop on the shorter end and reduced Fed rate hike likelihoods; USD/JPY edges closer to 162 again as a chunk of last Thursday’s violent drop undone with traders back to focusing on whether intervention will occur, and with an eye on Japanese government bond yields rising on the further end amidst concerns over the country’s fiscal health- European Central Bank’s President Lagarde says an early departure before the end of her term is "possible,” Nagel that the recent sharp decline in energy prices surprised the ECB but policymakers must remain vigilant given ongoing geopolitical uncertainty, and Moulin that the central bank is in a “good position” after raising rates last month- Bank of England’s Governor Bailey says the central bank is seeking to return inflation to target without unnecessarily damaging economic outputCapital.com Client Sentiment (w/w):- Indices: Moves into heavy buy territory in the Russell 2000 (66% from 58% at the start of last week) despite the price increase, while near the middle in the Dow 30 (slight long 52% from 62% a week ago) as the jump to a record high saw more longs close out and shorts initiate; elsewhere shifts in the DAX 40 (from a heavy buy 69% last Monday to a majority short 60%) as it too enjoys a record high, while moves further into extreme long territory in the ASX 200 (89% from 85%) as traders bought the intraweek dip- Commodities: Holds in heavy buy territory in gold (74%) but extreme long and a couple notches lower in silver (84% from 86% last Monday); WTI trader bias still heavy buy but trimmed (to 70% from 73%)- FX: Falls out of heavy buy territory in GBP/USD (58% from a heavy long 68% a week ago) as the pound outperformed, while the yen’s spike late last week that caused USD/JPY to move lower gave a chance for fresher shorts to unwind (majority short 64% from a heavy 71% at the start of last week)Data:- EZ services PMI for June revised up to 49.4 from the 48.9 preliminary estimate, composite reading reaches 50- UK services PMI for June revised slightly higher to 48.8Today:- U.S. ISM’s services PMI (6pm Dubai time), bill auctions, FOMC member speaks- In Europe, German factory orders (10 am), EZ Sentix’s investor confidence (12:30 pm), and both PPI and retail sales (at 1 pm)This Week:- U.S. trade data tomorrow, minutes from the latest FOMC meeting on Wednesday, and the weekly claims on Thursdayo Earnings from PepsiCo (NASDAQ:PEP) on Thursday and Delta Air Lines (NYSE:DAL) on Friday- Talks expected to resume on Saturday