ForexLive European FX news wrap: Dollar slightly lower, ECB coming up

Author: Justin Low | Category: News

Forex news from the European trading session - 9 September 2021



  • GBP leads, CAD lags on the day
  • European equities lower; S&P 500 futures down 0.2%
  • US 10-year yields down 1.1 bps to 1.329%
  • Gold up 0.6% to $1,798.88
  • WTI up 0.6% to $69.73
  • Bitcoin up 0.6% to $46,328

It was a quiet session as the market treaded with more caution amid some indecision still on the week thus far.

The dollar nudged a little lower alongside Treasury yields, giving back the gains seen earlier in the week amid more of a push and pull for the time being.

That comes despite a softer tone in equities with European indices sitting lower across the board while US futures are also pointing towards a slightly weaker open.

USD/JPY fell from 110.20 to 109.90 as Treasury yields also eased from 1.34% to 1.32% during the session, while GBP/USD climbed up from 1.3775 to 1.3825 as pound buyers look to try and seize back near-term control after the turnaround yesterday.

The kiwi is also maintaining a modest advance against the greenback as NZD/USD moves up from 0.7090 to 0.7115 as the kiwi continues its revival considering the improved virus situation in New Zealand, teeing up a move by the RBNZ next month.

Meanwhile, EUR/USD is up slightly from 1.1815 to 1.1830 ahead of the ECB policy meeting decision later, as traders work with a bit of a softer dollar for now.

Essentially, the market continues to look more rangebound and caught in a push and pull as Fed taper expectations stay on track but perhaps a more confusing message amid growing economic risks isn't helping and leading to some indecisiveness for now.

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose