Forex news from the European trading session - 21 July 2021

Headlines:

Markets:

  • NZD leads, AUD lags on the day
  • European equities higher; S&P 500 futures up 0.1%
  • US 10-year yields up 2.4 bps to 1.233%
  • Gold down 0.5% to $1,801.31
  • WTI up 1.3% to $68.05
  • Bitcoin up 5.6% to $31,539

There weren't much notable headlines on the session so that isn't leaving the market with much to work with in European morning trade today.

The general mood is one that reflects more calm and steadiness, after the rebound in stocks and bond yields yesterday.

US 10-year yields managed to move up from 1.21% to 1.25% before settling around 1.23% now, with S&P 500 futures also gaining by as much as 0.5% before trimming that to around 0.1% now going into North American trading.

Major currencies were more mixed with the dollar keeping a steady hold on the day.

EUR/USD traded to a low of 1.1753 but is sticking back around 1.1760-70 levels now. Meanwhile, GBP/USD briefly tracked below 1.3600 but is holding just above the figure level now as the downside momentum pauses for a while.

The aussie stays pressured after a poor retail sales report earlier, with the worsening virus situation domestically not helping as well. AUD/USD traded to its lowest since November @ 0.7290 but is keeping around 0.7300-10 now.

Elsewhere, Bitcoin looks to be coming up for air as it jumps by nearly 6% from below $30,000 to $31,500 levels now. Oil is also another lively performer as it moves up by over 1% to back above $68 after a test of key technical levels earlier in the week.