Forex news from the European trading session - 16 April 2021

Headlines:

Markets:

  • CHF leads, NZD lags on the day
  • European equities higher; S&P 500 futures up 0.1%
  • US 10-year yields down 1.7 bps to 1.558%
  • Gold up 0.8% to $1,777.90
  • WTI flat at $63.46
  • Bitcoin down 4.2% to $60,757

Things started off a bit more slowly and quiet on the session but as we move towards North American trading, it looks like the market is in the mood for another 'buy everything' session with Treasuries starting to see some bids again (yields falling).

US futures have also ticked a little higher and European equities are pushing forward with solid gains as we navigate through the final trading day of the week.

10-year Treasury yields are seen down 1.7 bps to 1.558% now after hovering around 1.57% to 1.58% for the most part in European morning trade earlier.

In FX, the dollar is keeping more mixed but slightly lower against the likes of the euro and pound after having started off with gains at the tail-end of Asian trading.

GBP/USD in particular had a choppy session as it fell from 1.3760 to 1.3717 as EUR/GBP threatened a break above 0.8700 - which retraced after - before climbing back up to 1.3800 currently as buyers look to secure an upside break.

EUR/USD continues to linger below resistance at 1.1990-00 as buyers are still in search of added conviction to chase a break higher.

Elsewhere, gold is marked higher as it continues the break from yesterday as yields drop slightly in the past hour. Price is extending up to near $1,780 with the target of $1,800 in sight for buyers on the latest technical breach.

The only real loser so far today is cryptocurrencies as Bitcoin retraces back lower towards $60,000 after Turkey announced a ban on payments in cryptos.