ForexLive European morning FX news wrap: Markets mixed in slow and steady trading

Author: Justin Low | Category: News

Forex news from the European morning session - 17 July 2019

Headlines:

Markets:

  • NZD leads, CHF lags on the day
  • European equities mixed; E-minis flat
  • US 10-year yields down 1.2 bps to 2.09%
  • Gold down 0.2% to $1,402.90
  • WTI up 0.7% to $58.04
  • Bitcoin down 4.2% to $9,190

EOD 17-07
Markets are in a mixed mood on the day as both traders and investors are finding little firm direction to work with given the lack of catalysts as the focus stays on the central bank and trade rhetoric for the time being.

Equities remain subdued with Treasuries also not offering too much as major currencies ranged for the most part amid some mixed moves on the session.

The pound was an early mover as it slipped in early trades before recovering some ground. Cable fell from 1.2410 to a low of 1.2382 before holding near flat levels on the day again now ahead of North American trading.

The dollar held steady for the most part with EUR/USD hovering in just a 22 pips range, holding near 1.1220 currently. USD/JPY is seen near flat levels at 108.20-30 and has barely budged from that range in the European morning.

The loonie and kiwi were decent movers with the former gaining some ground with oil prices holding more steady, ahead of Canadian CPI data later. USD/CAD held around 1.3053-70 for the most part on the session.

Meanwhile, NZD/USD gained once again but only to test key daily resistance levels around 0.6720-30 in what has been a familiar story throughout the whole of this week so far.

Looking ahead, the main focus of markets remains on central bank and trade/political developments so until we get more clues on that I reckon we'll be in for more choppy and mixed trading over the next few sessions.

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