ForexLive European FX news wrap: Dollar advances ahead of NFP

Forex news from the European trading session - 5 November 2021

Headlines:

Markets:

• USD leads, AUD and GBP lag on the day
• European equities higher; S&P 500 futures up 0.2%
• US 10-year yields up 0.4 bps to 1.528%
• Gold up 0.1% to $1,793.66
• WTI up 0.8% to $79.52
• Bitcoin flat at $61,334

It was a rather straightforward session as the dollar picked up from where it left off yesterday and extended its advance across the major currencies space.

EUR/USD moved down from 1.1550 to 1.1530 while GBP/USD slid from 1.3490 to 1.3425 as the pound's woes continued with sellers eyeing the 29-30 Sept lows @ 1.3412-15.

USD/CAD moved up from 1.2455 to 1.2470 to test its 200-day moving average while AUD/USD is down 0.4% and flirting with a break below its 100-day moving average.

Elsewhere, equities were steady with European indices pushing higher once again - France's CAC 40 breaches the 7,000 mark - while bond yields also kept the calm on the session.

It's all shaping up well for dollar bulls but we'll see if this edition of the US non-farm payrolls will help to confirm that or take away some of the momentum in the past few sessions, as the greenback knocks on the door of key technical levels.

November 06, 2021 at 12:00AM
Justin Low
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