Forex news from the European trading session - 28 June 2021
Headlines:
- ECB's Holzmann: PEPP will end when virus emergency is over
- ECB's Holzmann: We don't know yet what price path will bring
- ECB's Panetta: Risk of second-round inflation effects remains limited
- SNB total sight deposits w.e. 25 June CHF 712.5 bn vs CHF 712.2 bn prior
- Bitcoin sticks with yet another defense of $30,000 for now
- Germany May import price index +1.7% vs +1.3% m/m expected
- Fed's Rosengren: You don't want too much exuberance in the housing market
- Germany reports 219 new coronavirus cases, 8 deaths in latest update today
Markets:
- GBP leads, NZD lags on the day
- European equities mixed; S&P 500 futures up 0.1%
- US 10-year yields down 1.5 bps to 1.509%
- Gold down 0.4% to $1,774.21
- WTI down 0.1% to $73.97
- Bitcoin up 4.4% to $34,079
It is a relatively quiet start to the new week though the dollar is keeping more resilient and steadier despite little action elsewhere in the market.
Commodity currencies are the laggards after a bit of a slow period early on, with AUD/USD falling from 0.7590 to 0.7560 and NZD/USD slipping from 0.7070 to 0.7035.
USD/CAD also saw a bit of an upside push from 1.2300 to 1.2330 even as oil prices are keeping relatively steady ahead of the OPEC+ meeting later this week.
The pound was also a decent mover as cable ran up from 1.3900 to 1.3940 only to stall at near-term resistance levels once again before the gains were wiped out.
There weren't any key headlines as we still await a couple of key things later in the week.
Elsewhere, equities are a bit mixed and tepid while Treasury yields are down slightly.
