ForexLive European FX news wrap: Sterling up after UK CPI, markets mixed awaiting Fed | Forexlive
Headlines:
Markets:
- NZD leads, USD lags on the day
- European equities lower; S&P 500 futures up 0.1%
- US 10-year yields up 2.8 bps to 3.677%
- Gold up 0.4% to $2,578.75
- WTI crude down 0.9% to $69.22
- Bitcoin down 0.7% to $59,913
It’s all about the countdown to the Fed and we’re seeing some mixed moves in markets ahead of the main event later.
The dollar is weaker across the board and that despite Treasury yields holding up on the session. USD/JPY remains pinned down since Asia trading, keeping around 141.60-80 levels mostly during the session.
UK inflation data was the main highlight and that helped to prop up sterling a little bit. Services inflation remains a problem for the BOE and that increased odds of the central bank standing pat tomorrow. GBP/USD moved up from 1.3160 to just above 1.3200 currently.
Besides that, the greenback held slightly softer across the board with the antipodeans gaining some modest traction. AUD/USD is up 0.5% to 0.6785 while NZD/USD is up 0.7% to 0.6225 on the day.
That comes even as US futures are keeping more pensive, while European indices are looking rather sluggish. On the latter, perhaps investors are taking on a more cautious approach as the Fed decision will come after the European close.
Tick tock, tick tock. The end of the FOMC meeting can’t come soon enough.