Forex news from the European morning session - 19 March 2021



  • JPY leads, EUR lags on the day
  • European equities lower; S&P 500 futures up 0.2%
  • US 10-year yields down 2.3 bps to 1.685%
  • Gold up 0.3% to $1,741.20
  • WTI up 0.2% to $60.10
  • Bitcoin up 2.3% to $58,802
EOD 19-03

It was a relatively quiet and mixed session as we gear towards a potentially more noisy end to the week on yet another quadruple witching Friday.

The BOJ sent out some mixed signals as they widened the 10-year JGB yields band, although Kuroda came out to claim that that is not the case as it has been part of their policy all along; whilst also clarifying the central bank's stance on the ETF guidance change.

The yen didn't respond all too much with USD/JPY hugging 108.70-80 levels for the most part on the session, as the dollar also held steadier across the board.

Major currencies aren't doing a whole lot, with narrower ranges playing out. EUR/USD stuck around 1.1890-05 levels after a bit of a drop from 1.1910-15 earlier on.

Commodity currencies also showed little poise to move as risk sentiment is keeping on the more tepid side after the declines in US equities yesterday.

S&P 500 and Nasdaq futures are slightly higher while Dow futures are little changed.

Elsewhere, 10-year Treasury yields are reflecting some calm as it keeps a little lower but the shallow pullback isn't leading to much comfort ahead of US trading.

US-China talks in Alaska are set to continue later today but that is more of a sideshow as the market will be looking to brave through the potential surge in volume later today.

Happy witch-hunting and a great weekend to all!