ForexLive European FX news wrap: Euro a little higher as ECB calms nerves

Author: Justin Low | Category: News

Forex news from the European trading session - 11 September 2020

Headlines:

Markets:

  • AUD and NZD lead, JPY lags on the day
  • European equities mixed; E-minis up 0.8%
  • US 10-year yields up 1.1 bps to 0.688%
  • Gold flat at $1,946.85
  • WTI up 0.4% to $37.45
  • Bitcoin flat at $10,305

EOD 11-09
ECB policymakers were the noisiest bunch in European morning trade today, as they injected more calm surrounding a stronger euro - with exception to Philip Lane.

The single currency posted decent gains as it broke above its 200-hour moving average against the dollar, climbing from 1.1830 to 1.1874 and is just below that now.

Meanwhile, risk is faring better in general despite the mixed tones in European markets with US futures posting more modest gains and never really faltered on the session.

That is also keeping commodity currencies more bid with AUD/USD rising from 0.7280 to 0.7300 while NZD/USD is keeping closer towards 0.6900.

The pound continues to chop around as it rose to a high of 1.2865 only to slip all the way back to a low of 1.2763 and is now just back above 1.2800 on the day.

Brexit worries continue to keep any buying momentum in-check for now.

Looking ahead, all eyes will be on Wall St to figure out some firmer direction after the setback yesterday. Will there be more jitters to follow ahead of the weekend? We'll see.

I'm going to be off next week, so I want to wish everyone a great weekend ahead and also a wonderful week to come as well. Have a good one!

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