ForexLive European FX news wrap: Dollar mixed in more quiet trading

Author: Justin Low | Category: News

Forex news from the European trading session - 26 August 2020



  • NZD leads, EUR lags on the day
  • European equities mixed; E-minis flat
  • US 10-year yields up 3 bps to 0.714%
  • Gold down 0.7% to $1,915.60
  • WTI down 0.4% to $43.20
  • Bitcoin up 1.2% to $11,399

EOD 26-08
It was a largely quiet session, with the market starting to shift its focus towards Fed chair Powell's speech tomorrow at the Jackson Hole symposium.

Stocks lacked enthusiasm for the most part, with European equities more mixed while US futures have been keeping near flat levels throughout the day.

Treasury yields are a little higher once again and that remains a key spot to be mindful of ahead of the barrage of central bank speakers in the second-half of the week.

However, the lack of impetus is leaving major currencies little to work with in trading today as we see more narrow ranges prevail for the most part.

EUR/USD is sitting a little lower just above 1.1800 but kept mostly around 1.1810-20 during the session, with gains limited by its 100-hour moving average @ 1.1820.

USD/JPY eased a little from 106.40 to 106.30 despite the push higher in yields, but isn't really doing much overall as the trading range stays more narrow.

Elsewhere, the dollar is little changed across the board with other major currencies showing little poise to break stride so far today.

Looking ahead, we'll get US durable goods orders for July but expect the key focus to stay on the anticipation ahead of the Jackson Hole symposium starting from tomorrow. That may keep stocks more grounded in North American trading later today.

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