ForexLive European FX news wrap: Dollar holds steady to start the week
Forex news from the European trading session - 12 October 2020
- ECB's Lagarde: ECB very seriously looking at digital euro
- SNB total sight deposits w.e. 9 October CHF 704.6 bn vs CHF 705.1 bn prior
- UK's Dowden: New measures are to get the virus under control
- BOE asks banks about their operational readiness to implement zero or negative interest rates
- Germany reports 2,467 new coronavirus cases in latest update today
- The EU will insist on 'tough enforcement rules' in any trade deal with the UK
- 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
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.