ForexLive European FX news wrap: Dollar holds steady to start the week

Author: Justin Low | Category: News

Forex news from the European trading session - 12 October 2020

Headlines:

Markets:

  • JPY leads, AUD lags on the day
  • European equities higher; E-minis up 0.4%
  • Gold down 0.3% to $1,924.70
  • WTI down 1.4% to $40.02
  • Bitcoin up 1.9% to $11,249

EOD 12-10
It was a largely quiet session, with little in terms of notable headlines crossing in the European morning. The dollar kept a little firmer, retracing some losses from last Friday.

The greenback had a better outing, riding on some momentum from the weekend after the PBOC took action to curb the recent strength in the Chinese yuan.

EUR/USD eased from 1.1810 to 1.1790 while GBP/USD slipped from 1.3060 to 1.3006 before keeping around 1.3020-30 levels currently.

Meanwhile, AUD/USD eased from 0.7220 to 0.7205 while gold kept lower around $1,920-25 for the most part after starting the day near $1,930.

Even with US markets being half open (Treasuries cash market is closed), the focus will remain on stimulus talks and election odds once again.

The UK will also be a point of focus as Boris Johnson is to unveil new measures to fight the virus spread and Brexit headlines/rumours may pop up at any time this week.

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