ForexLive European FX news wrap: Dollar steady, yen holds advance on mixed markets

Forex news from the European trading session - 9 November 2021

Headlines:

Markets:

• JPY leads, AUD and NZD lag
• European equities a little higher; S&P 500 futures flat
• US 10-year yields down 3.2 bps to 1.465%
• Gold flat at $1,824.25
• WTI up 0.6% to $82.44
• Bitcoin up 2.4% to $67,715

It was a relatively quiet session as the market drifted for the most part, with major currencies seeing light changes overall.

Treasury yields slumped and are keeping lower, weighing on yen pairs though USD/JPY did move off lows around 112.75 to 113.00 currently.

Meanwhile, equities are seeing a familiar theme develop as dip buyers erase the early drop with European indices nudging higher (DAX and CAC 40 briefly clipping record highs) and US futures also paring its earlier fall to flat levels on the day.

In the FX space, EUR/USD eased a little from 1.1600 to 1.1575 as the dollar steadied. Cable pushed up to a high of 1.3600 before paring back that advance to 1.3560.

Elsewhere, USD/CAD is seeing little change and sticking around 1.2430-40 levels while the aussie and kiwi are retreating slightly after having kept around unchanged levels for the most part of European morning trade.

It's a bit of a mixed mood in the market as such but overall, the moves are light with arguably some anticipation ahead of the US consumer inflation report tomorrow.

November 10, 2021 at 12:50AM
Justin Low
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