Forex Trading For Beginners 2021: ForexLive European FX news wrap: A quiet one to start the week

Forex news from the European trading session - 30 August 2021

Headlines:

Markets:

CAD leads, CHF lags on the day
European equities a little higher; S&P 500 futures up 0.1%
US 10-year yields flat at 1.31%
Gold flat at $1,817.05
WTI down 0.4% to $68.50
Bitcoin down 2.5% to $47,660

It was mostly a quiet and uneventful session in European morning trade today, as the market stuck with calmer tones to kick start the new week.

Risk appetite is only marginally positive as equities continue to breathe a little easier after last week's gains, having seen Fed chair Powell not offering any fresh hints on tapering.

But if anything else, the overall mood of the market seems flattish and more tepid.

FX also didn't really show any poise to move with EUR/USD sticking around resistance at 1.1800-05 and just below that on the session.

The dollar trades little changed across the board amid more muted sentiment to start the day, with the aussie a touch weaker as the virus situation in New South Wales continues to see a rise in daily cases (not a good sign despite lockdown).

The franc also weakened slightly as USD/CHF moved up from 0.9115 to 0.9150 but that seems to be more flow-based. In that regard, keep in mind London is out today amid the summer bank holiday so conditions have been a lighter/quieter in Europe.

Elsewhere, oil opened with a gap higher earlier today only to fall going into European trading where losses extended to 1% as WTI tested levels below $68. Price has since moved back up a little to $68.40-50 now.

Hurricane Ida was among the key topics in the market to start the week but it has since weakened to a tropical storm (still dangerous) in the morning.