Forex news from the European trading session - 13 August 2021



  • CHF leads, USD lags on the day
  • European equities slightly higher; S&P 500 futures flat
  • US 10-year yields down 1.2 bps to 1.349%
  • Gold up 0.3% to $1,759
  • WTI flat at $68.90
  • Bitcoin up 4% to $46,237

It was a quiet session in terms of headlines and even market movement was largely more muted as the week begins to wind down.

Major currencies were quiet as the summer doldrums continue in Europe, but the euro did see some light action in the latter stages of the morning as it crept higher.

EUR/USD moved up from 1.1740 to 1.1760 and is contesting daily resistance around 1.1750-55, with buyers looking to try and break the recent downside momentum.

USD/JPY also inched a little lower from 110.40 to 110.20 as Treasury yields struggle for meaningful direction, sitting slightly lower on the session. That said, USD/JPY still has near-term support close to 110.00 so the move today isn't saying much.

Meanwhile, cable did briefly clip fresh lows in over two weeks under 1.3800 before recovering some ground back to 1.3820. Elsewhere, commodity currencies are more subdued and traded rather flattish against the greenback throughout.

Looking at equities, European indices are still having a good week as the DAX hits 16,000 for the first time as gains continue to pile in little by little. US futures are more muted though but the rotation from tech to value seems to still be sticking.