investingLive European markets wrap: Dollar eases lower ahead of US retail sales | investingLive
Headlines:
Markets:
- JPY leads, USD lags on the day
- European equities a little higher; S&P 500 futures up 0.1%
- US 10-year yields flat at 4.295%
- Gold up 0.2% to $3,342.17
- WTI crude down 0.5% to $63.60
- Bitcoin up 0.9% to $119,065
It was a quiet session with it being a bank holiday in most of Europe today. As such, that saw little appetite for markets to go running but we did see the dollar give back some of the gains after the US PPI data yesterday.
As things stand, traders are still firmly pricing in a 25 bps rate cut for September with the odds cooling on any potential 50 bps move as Fed policymakers also push back against that.
EUR/USD is up 0.3% to 1.1687 with USD/JPY sliding on the session, down 0.5% to 146.95 currently. The latter hit a low of 146.75 after having begun the session around 147.10 with yen holding firmer after stronger Japan Q2 GDP data.
The changes elsewhere are relatively light with USD/CHF down 0.2% to 0.8055 and GBP/USD up 0.2% to 1.3555. Meanwhile, AUD/USD is up 0.3% to 0.6510 but keeping within a 35 pips range on the day.
In the equities space, European indices are holding steadier and not doing all too much. This comes as US futures are also looking rather tentative in waiting on the retail sales data later before figuring out how to wrap up the week. Overall, equities have been solid this week with Wall Street still hovering at fresh record highs and European stocks largely erasing the sharp decline from two weeks ago.
There isn’t too much else happening as market players now turn their attention to the US retail sales data coming up next.