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ForexLive European FX news wrap: Dollar slides further in quiet trading | Forexlive

Headlines:

Markets:

  • JPY leads, USD lags on the day
  • European equities higher; S&P 500 futures up 0.3%
  • US 10-year yields down 2.2 bps to 4.271%
  • Gold flat at $3,332.63
  • WTI crude up 0.4% to $65.14
  • Bitcoin down 0.6% to $107,238

It was another quiet session in Europe in terms of headlines but at least there was action in the major currencies space as the dollar slumped across the board. The bad stretch for the dollar continues this week following the selling yesterday, with month-end just around the corner now.

The greenback fell against all the major currencies with EUR/USD testing waters above 1.1700 before keeping closer to figure now with large option expiries seen. Meanwhile, USD/JPY fell off from around 144.70 to a low of 143.75 before recovering slightly to 144.40 now – still down 0.6% on the day though.

There was no reprieve anywhere for the dollar with USD/CHF briefly dipping below 0.8000 for the first time since 2011 while USD/CAD is seen down 0.3% to 1.3687 and AUD/USD up 0.3% to 0.6530 on the day.

In other markets, equities are slowly grinding higher again with European indices looking to bounce back a little after the fall yesterday. As for US futures, things are looking brighter again as tech shares continue to lead the way. S&P 500 futures are up 0.3% with Nasdaq futures up 0.4% currently.

There was some decent action elsewhere with gold and silver briefly jumping higher during the session before giving up much of their earlier gains. Gold is back flat around $3,332 with silver up just 0.6% to $36.50 after a quick rise to $36.83 during the session.

We’ll have some US data to deal with next in the form of the weekly jobless claims, Q1 final GDP, and durable goods orders. As the dollar slumps, best be reminded that month-end is also coming up. So, perhaps we’ll get more clarity after that with some traders arguably opting to ride that out before stepping back in after the whole Iran-Israel conflict.

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