ForexLive European FX news wrap: ECB plays by the book

Author: Justin Low | Category: News

Forex news from the European trading session - 22 April 2021

Headlines:

Markets:

  • CHF leads, NZD lags on the day
  • European equities higher; S&P 500 futures down 0.1%
  • US 10-year yields up 1.2 bps to 1.568%
  • Gold down 0.5% to $1,785.70
  • WTI down 0.5% to $61.00
  • Bitcoin down 0.3% to $54,845

Major currencies are keeping little changed for the most part as the dollar steadies a little after seeing a more mixed session in trading yesterday.

European equities are in a good mood, still clawing back losses from Tuesday, while US futures were more tepid, leaving market participants little to work with as Treasury yields are also seen keeping steadier overall during the session around 1.54% to 1.56%.

The ECB stuck to the script and the euro is little changed on the decision as EUR/USD continues to toy around with key technical levels as it hovers around 1.2030-50 levels.

USD/JPY eased a little lower from 108.00 to 107.82 earlier in the session but is now back up to 108.00-10 with large expiries seen at 108.00 through to 108.40 today.

GBP/USD trades slightly softer as buyers give up near-term control in a dip just below 1.3900 for the time being. Meanwhile, USD/CAD eased lower initially from 1.2500 to 1.2473 before buyers defended daily resistance @ 1.2476-00 to keep above 1.2500 now.

The aussie and kiwi are slightly lagging but it doesn't look to be too much of a bother as they pull back after the gains seen in trading yesterday.

ECB president Lagarde's presser and US jobless claims are ones to watch later but barring any major surprises, the focus should stay on risk sentiment ahead of the weekend.

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