ForexLive European FX news wrap: Dollar steady ahead of retail sales; RBA on hold | Forexlive
Headlines:
Markets:
- CHF leads, NZD lags on the day
- European equities slightly higher; S&P 500 futures flat
- US 10-year yields up 1.2 bps to 4.290%
- Gold down 0.4% to $2,310.01
- WTI crude flat at $80.35
- Bitcoin down 1.8% to $65,202
The dollar is holding steadier on the day, keeping a little higher ahead of the next big event on the calendar later today.
The US retail sales data for May is due and that will be one to watch for markets, in following up from the Fed decision last week.
EUR/USD and GBP/USD are both down 0.2% to 1.0710 and 1.2675 respectively, while USD/JPY pushed higher from 157.60 in Asia to hold just above 158.00 currently.
The franc continues to hold its own ahead of the SNB later this week, with USD/CHF down 0.2% to 0.8875. The pair is now testing waters below its 200-day moving average of 0.8895 on the day.
The aussie is lightly changed at 0.6610 against the dollar with the RBA offering a nothing burger on the day. RBA governor Bullock did say that they did discuss rate hikes today but quickly toned that down by stating the preference to want to cut rates instead as their next move.
In other markets, bond yields are a touch higher again today while equities sentiment is more muted overall. European indices may be higher but it owes to Wall Street gains yesterday. There was a bit of a struggle early on with French stocks briefly paring opening gains. That’s an indication that the political woes are still in play in the bigger picture.
As for commodities, precious metals are lower again and gold might be seeing a more troubling sign when it comes to the charts. So, keep an eye out for that.