Forex news from the European trading session - 7 June 2021
- Yellen: US economy is transitioning to pre-pandemic state
- BOE's Bailey: BOE has not made a decision on central bank digital currency
- Eurozone June Sentix investor confidence 28.1 vs 25.4 expected
- SNB total sight deposits w.e. 4 June CHF 710.8 bn vs CHF 710.5 bn prior
- UK May Halifax house prices +1.3% vs +1.2% m/m expected
- Switzerland May CPI +0.6% vs +0.5% y/y expected
- Germany April factory orders -0.2% vs +0.5% m/m expected
- Germany reports 1,117 new coronavirus cases, 22 deaths in latest update today
- AUD leads, USD lags on the day
- European equities a little higher; S&P 500 futures flat
- US 10-year yields up 2.4 bps to 1.577%
- Gold down 0.2% to $1,887.63
- WTI down 0.2% to $69.47
- Bitcoin up 1.0% to $36,341
It was a rather uneventful session in Europe to start the week with no notable headlines to really shake things up.
The market is still moving past the non-farm payrolls report on Friday, or it perhaps already has, and there isn't much to suggest a major shift in tone for now.
FX stays little changed overall with the dollar seeing mixed and choppy tones across the board but holding narrow ranges for the most part.
EUR/USD moved down from 1.2160 to 1.2145 before holding at 1.2167 currently.
GBP/USD was a decent mover as it fell from 1.4140 to 1.4111 but is now trading near the highs for the day at 1.4170 levels, though keeping within range of the past three weeks.
Elsewhere, equities are keeping tepid and holding the gains from Friday at least with US futures also recouping a minor decline from earlier to start the session.
The ECB and US CPI data are the highlights this week so it will be a slow grind until then.