ForexLive European FX news wrap: Dollar steady ahead of US CPI data

Forex news from the European trading session - 11 August 2021

Headlines:

Markets:

• NZD leads, AUD lags on the day
• European equities slightly higher; S&P 500 futures down 0.1%
• US 10-year yields up 2.7 bps to 1.37%
• Gold up 0.6% to $1,738.26
• WTI down 2.2% to $66.80
• Bitcoin up 0.7% to $45,969

It was a quiet session as the market waits on US CPI data for further clues on the week, with the dollar keeping steadier and major currencies little changed overall.

Higher Treasury yields did see USD/JPY tick higher to 110.80 from 110.60 but is holding back around 110.60-70 levels currently. 10-year yields are continuing their march upwards in a push by nearly 3 bps to 1.37% on the session.

Equities remained tentative so that isn't giving market participants much to work with in terms of risk sentiment as we approach the US trading.

EUR/USD continues to linger at the lows for the year, testing support @ 1.1704-11.

Elsewhere, commodity currencies remain tentative against the greenback with the aussie slightly lower but off the lows as AUD/USD is seen at 0.7340 from 0.7325 earlier.

Oil was a notable mover after the White House called for OPEC+ to do more in order to curb the rise in oil prices, marked down by 2% in a fall from $68 to just below $67 now.

August 12, 2021 at 12:20AM
Justin Low
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