ForexLive European FX news wrap: All quiet ahead of the Fed

Author: Justin Low | Category: News

Forex news from the European trading session - 29 July 2020

Headlines:

Markets:

  • GBP leads, NZD lags on the day
  • European equities mixed; E-minis up 0.1%
  • US 10-year yields up 1.3 bps to 0.592%
  • Gold down 0.2% to $1,954.04
  • WTI up 1.0% to $41.44
  • Bitcoin up 0.5% to $11,032

EOD 29-07
It was a largely quiet session as the market is keeping its eyes on the Fed policy meeting that is to come later in the trading day.

There wasn't much notable headlines to distract from that, as the dollar kept a little weaker and more mixed across the board throughout.

The decline in the greenback is rather modest with only USD/JPY testing waters under 105.00 and cable nearing 1.3000 being the standout pairs for the time being.

Elsewhere, gold and silver are keeping more muted after having been a major theme in markets over the past few sessions. Stocks are also sidelined in anticipation of the Fed.

All eyes are on North American trading today, so let's see if we will get more of a nudge later in the day after a bit of a lull of a session in Europe.

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