Asian markets retreated broadly overnight as Treasury yields climbed back to 5.15%, erasing the safe-haven tailwind that supported gold and the yen through last week. The environment is risk-off with yields as the principal pressure, the Houthi claims of six strikes on Saudi infrastructure adding a geopolitical bid to crude, and the UK ONS labour market report landing at 07:00 providing the session's first significant data catalyst.
WTI is trading near $98.65 with the $99.00 level as the morning's key threshold. Unverified Houthi claims on Aramco and Riyadh airport have not yet been priced in fully, and a single Saudi confirmation could send crude $4 to $6 higher. Gold has slipped to $4,138 under yield pressure, with critical support at $4,104 to $4,113 the level to watch. In forex, GBP/JPY near 210.50 is the session's highest-event-risk pair: the ONS jobs data hits directly against the most extreme cross-positioning divergence in the CFTC dataset, with GBP at the 0th percentile short and JPY at the 87th percentile long. USD/CHF near 0.8240 continues to carry the highest structural conviction, with the 98th-percentile CHF short from the October 13 CFTC report sitting unresolved.
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