ForexLive European FX news wrap: Dollar continues to keep firmer to start the week
Forex news from the European trading session - 29 June 2021
- Saxony June CPI +2.1% vs +2.4% y/y prior
- Japan reportedly to appoint international policy veteran as next top currency official
- UK May mortgage approvals 87.5k vs 86.9k prior
- UK June Nationwide house prices +0.7% vs +0.7% m/m expected
- RBNZ's Orr: NZ economy activity is returning to pre-pandemic levels
- JPY leads, AUD lags on the day
- European equities higher; S&P 500 futures flat
- US 10-year yields up 0.8 bps to 1.488%
- Gold down 0.4% to $1,772.65
- WTI down 0.6% to $72.46
- Bitcoin up 2.8% to $35,630
It was a quiet session once again in terms of key headlines though there was some decent movement in the market during the session.
The dollar inched higher while European equities kept firmer, even as US futures and Treasury yields saw little appetite in general.
The greenback is clawing back some losses from last week as it trades to a near one-week high against the major currencies bloc. EUR/USD eased from 1.1925 to 1.1900 while GBP/USD fell from 1.3870 to 1.3825-30 as sellers eye the 1.3800 level.
USD/CAD also inched higher from 1.2340 to 1.2382 to near its 100-day moving average while AUD/USD fell from 0.7560 to 0.7520 levels as commodity currencies retreated.
That said, the action so far is keeping with the post-FOMC range so we'll have to see what comes next with month-end action also in focus over the next two days.
Otherwise, it's a bit of a wait to the US non-farm payrolls on Friday. In the meantime, let's hope that the Euros continue to deliver some epic matches like yesterday. England against Germany is up next today. Who do you guys fancy? It's 🇩🇪 for me.