ForexLive European FX news wrap: Dollar mixed in quiet, steady markets

Forex news from the European trading session - 8 November 2021

Headlines:

Markets:

• NZD leads, CHF lags on the day
• European equities mixed; S&P 500 futures up 0.1%
• US 10-year yields up 3 bps to 1.483%
• Gold flat at $1,817.64
• WTI up 1.0% to $82.06
• Bitcoin up 8.0% to $65,860

It was a quiet session for the most part as the market steps into the new week with a sense of calm and trepidation.

Bond yields bounced back after the squeeze on shorts at the end of last week, so that is helping to keep yen pairs afloat though USD/JPY is little changed around 113.40-50 levels.

Major currencies didn't do a whole lot as the dollar kept more mixed, with EUR/USD hugging 1.1560-70 levels for the most part during the session.

The kiwi is leading gains as NZD/USD moves up from 0.7140 to 0.7160, with the currency largely benefiting from a continued shove lower in AUD/NZD towards 1.0300.

Meanwhile, equities were largely steady after a bit of an early setback to tech stocks amid Elon Musk's weekend shenanigans. Nasdaq futures pared declines of up to 0.4% to flat levels now as overall sentiment picks up ahead of North American trading.

Elsewhere, gold is largely steady and keeping the Friday push above $1,800 while Bitcoin is looking perky as it briefly clips $66,000 on the way up.

November 09, 2021 at 01:02AM
Justin Low
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