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

Forex news from the European trading session - 28 July 2021

Headlines:

Markets:

• CAD leads, AUD lags on the day
• European equities slightly higher; S&P 500 futures flat
• US 10-year yields up 2 bps to 1.264%
• Gold down 0.2% to $1,796
• WTI up 0.1% to $71.96
• Bitcoin up 3.1% to $40,714

Major currencies were more tepid with risk keeping steadier as all eyes are on the FOMC meeting decision later today. The Fed isn't expected to announce any policy changes but a lot of emphasis will be put on the language and any hints on tapering.

EUR/USD holds just above 1.1800 with USD/JPY climbing back up just above 110.00 as Treasury yields are up slightly ahead of the Fed later.

There weren't any major releases for market participants to work with, though US futures did climb a little off lows at the start of the day to be closer to flat levels now.

The aussie and kiwi are slightly softer but nothing too major with the loonie keeping a slight advance ahead of Canadian CPI data at the bottom of the hour.

It's all about the Fed today so let's see where that takes us before the final two days of the trading week.

July 29, 2021 at 12:05AM
Justin Low
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