investingLive European session wrap: Dollar steady amid tepid market mood, cryptos retreat | investingLive
Headlines:
Markets:
- NZD leads, JPY lags on the day
- European equities lower; S&P 500 futures down 0.1%
- US 10-year yields down 2.5 bps to 4.296%
- Gold up 0.3% to $3,346.76
- WTI crude up 0.6% to $63.19
- Bitcoin down 2.1% to $115,041
It was a quiet session with little on the agenda to really shake things up. That is seeing markets just trudge along to start the new week, with eyes on bigger events in the coming days. The anticipation will slowly build towards Fed chair Powell’s speech at Jackson Hole at the end of the week.
For today, it’s more of a tentative mood across asset classes. In FX, the dollar is lightly changed with narrower ranges prevailing. USD/JPY is up only 0.2% to 147.50 while EUR/USD is down 0.1% to 1.1683 on the day. Meanwhile, USD/CAD is down 0.2% to 1.3793 while AUD/USD is seen marginally higher by 0.1% to 0.6510. The changes show a lot to be desired to start the week.
In the equities space, we’re seeing stocks also cool after last week’s gains. That despite Japanese stocks ending at fresh record highs. European indices are marked down amid a more tepid mood with US futures also keeping marginally lower as Wall Street is waiting on key earnings from retailers this week. Target and Walmart are the big two to look out for.
Elsewhere, gold is up slightly but remains largely in a consolidative mood since the end of May as pointed out here. Among the more notable movers are actually cryptocurrencies with Ethereum down almost 5% to $4,268 as the recent upside momentum fades, with Bitcoin also seeing a loss of altitude and is down over 2% to $115,041.