ForexLive European FX news wrap: ECB uninspiring, US CPI up next

Author: Justin Low | Category: News

Forex news from the European trading session - 10 June 2021



  • AUD leads, GBP lags on the day
  • European equities lower; S&P 500 futures flat
  • US 10-year yields up 1.2 bps to 1.503%
  • Gold down 0.6% to $1,877.56
  • WTI up 0.1% to $70.04
  • Bitcoin up 4.1% to $37,905

It was once again a quiet session as the market geared up for key risk events on the day with the ECB failing to really shake things up, sticking to expectations.

The central bank pledged to maintain "faster" PEPP purchases as compared to earlier in the year, while steering away from any kind of taper talk for the time being.

FX is little changed overall with equities also a little tepid as market participants wait on the US CPI data release later in the day. Dollar pairs are sitting within 0.1% change of each other now so that tells the story of trepidation at the moment.

Elsewhere, Treasury yields managed to move off lows bouncing off the 100-day moving average in 10-year yields to sit just above 1.50% currently.

All eyes will be on whether US inflation numbers later will help to jolt the market one way or another but watch out for a potential dual reaction to follow.

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