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ForexLive European FX news wrap: Major currencies little changed, gold falls back | Forexlive

Headlines:

Markets:

  • NZD leads, CHF lags on the day
  • European equities higher; S&P 500 futures up 0.3%
  • US 10-year yields down 5.7 bps to 4.398%
  • Gold down 2.0% to $3,175.20
  • WTI crude up 0.3% to $61.80
  • Bitcoin up 0.2% to $103,712

It was a quiet session for the most part as markets continue to digest the reprieve on the trade front, with Trump wrapping up his visit to the Middle East.

There weren’t much meaningful headlines, at least not major ones, and so that is seeing broader markets stick to the theme for much of the week.

The dollar is trading more sideways for once at least, keeping little changed against the likes of the euro and the yen. EUR/USD is sticking closer to the 1.1200 mark, with large option expiries at the figure level creating a magnet for price action. Meanwhile, USD/JPY did ease to test the 145.00 mark but is now holding little changed near 145.60 on the day.

Elsewhere, the dollar isn’t doing too much as well. USD/CHF is up 0.1% to 0.8368 and USD/CAD nearly flat at 1.3961 on the day.

This comes despite equities holding some light gains during the session. US futures were flattish initially but are now slightly higher as investors look to end a good week on a positive note. The same goes for European indices, which are holding modest gains on the session thus far.

Besides that, we are seeing bond yields come off a little on the day with 10-year yields easing back to around 4.40% and 30-year yields back under 4.90% to 4.86% currently.

In the commodities space, gold is running into another round of selling after a minor bounce yesterday. The precious metal is down 2% to $3,175 with the drop now erasing the advance from the day before.

I’m gonna be off for a little break next week. I wish everyone a wonderful weekend and I’ll catch you guys again in just over a week. Stay safe and have a good one.

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