ForexLive European FX news wrap: Dollar softer, equities stay buoyed
Headlines:
Markets:
- EUR leads, CHF lags on the day
- European equities higher; S&P 500 futures up 0.8%
- Gold up 0.1% to $1,855.53
- WTI crude up 0.7% to $113.03
- Bitcoin up 6.6% to $30,647
It was a quiet session for the most part as markets carried over the trading themes from last week.
With it being a US holiday, there is little conviction to switch things around. The dollar weakened and equities are gaining modestly as we get things going on the new week. Meanwhile, economic data suggests inflation continues to run rampant in Europe with upside surprises seen in Spain and Germany.
EUR/USD gained modestly from around 1.0740 to 1.0780 while GBP/USD pulled higher from 1.2630 to 1.2650 levels on the session. The dollar is softer for the most part, only gaining against the yen and franc in more risk-on trading.
AUD/USD is also seen up 0.3% to close in on 0.7200 while USD/CAD is down 0.3% to below 1.2700 on the day.
European indices are posting decent gains as equities are kicking things off on the right foot this week, while US futures are carrying over the positive mood from the cash market last week with solid gains today.