Forex Trading, News, Systems and More

investingLive European markets wrap: Yen falls on Ueda presser, US futures keep higher | investingLive

Headlines:

Markets:

  • EUR leads, JPY lags on the day
  • European equities mixed; S&P 500 futures up 0.9%
  • US 10-year yields down 3.4 bps to 4.344%
  • Gold up 0.9% to $3,305.09
  • WTI crude down 0.5% to $69.64
  • Bitcoin up 1.0% to $118,361

With month-end approaching, markets are keeping busy with some decent action all across the board. Trade headlines are also continuing to dominate but most of it seems to be settled already ahead of the 1 August deadline. That at least for the bigger names. As for the rest, we’ll have to wait and see what comes from the US administration tomorrow.

After the earnings beat from Microsoft and Meta, equities are keeping more buoyed today. However, that still largely is limited to tech shares as European equities failed to hang on to gains during the session. After a more positive start, major indices in Europe are now tilting lower while US futures are still holding up but mostly thanks to big tech.

S&P 500 futures and Nasdaq futures are still up 0.8% and 1.2% respectively, with eyes on Apple and Amazon’s earnings as well today after the close.

In FX, the Japanese yen was sent for a bit of a ride today amid the BOJ policy decision. The central bank upped their inflation forecasts and that saw the currency be more bid at the tail-end of Asia trading. However, BOJ governor Ueda then poured cold water on the situation by saying that it doesn’t mean that the revision will signal rate hikes.

Essentially, Ueda just did not want to be explicit on the matter but he did acknowledge that better trade developments will help with providing them with more clarity on future decisions.

Still, USD/JPY turned around from 148.90 to briefly test the 150.00 mark as buyers look to come up for some air in breaking above the 200-day moving average of 149.51.

Besides that, the dollar is keeping a little softer elsewhere with EUR/USD up 0.4% to 1.1448 and USD/CHF down 0.4% to 0.8115 on the day. USD/CAD is flattish around 1.3835 while AUD/USD is just a little higher by 0.2% to 0.6445 currently.

In other markets, gold is also seen rebounding back to nudge above $3,300 again. The precious metal continues to consolidate in and around the figure level after the recent upside move stalled. Meanwhile, cryptocurrencies are also continuing to hang on near the highs with Bitcoin seen at $118,000 levels again while Ethereum is up nearly 2% in pushing above the $3,800 mark. The latter is still largely eyeing a test of $4,000 on the week.