ForexLive European FX news wrap: Steady look ahead of the final stretch this week

Forex news from the European trading session - 12 November 2021

Headlines:

Marktes:

• GBP leads, CHF lags on the day
• European equities mostly higher; S&P 500 futures up 0.2%
• US 10-year yields up 1.4 bps to 1.572%
• Gold down 0.5% to $1,852.42
• WTI down 2.1% to $79.88
• Bitcoin down 2.1% to $63,675
  
  

The session featured few key headlines but there were some decent market moves notably with Treasuries being sold upon the return from the holiday yesterday.

Higher yields pushed USD/JPY up to 114.20-30 initially but price is settling around 114.00 now as the dollar keeps more mixed, alongside large expiries at the figure level today.

EUR/USD continues to look heavy as it lingers around 1.1440-50 while GBP/USD has had a back and forth session, moving to lows of 1.3355 before recovering back close to 1.3400.

Meanwhile, USD/CAD buyers are still keeping up the positive momentum in testing 1.2600 with the loonie not helped by a retreat in oil prices - which is poised for a third straight weekly decline as the $80 level comes into focus ahead of the close later.

As such, the dollar is keeping in favourable spot from a technical perspective at least.

Elsewhere, the aussie and kiwi are little changed in general with risk sentiment leaning slightly more on the positive side as European indices keep higher for the most part while US futures are also pointing to slight gains after a mixed showing yesterday.

It seems like the market is just going through the motions in carrying over the post-CPI narrative until we get to a fresh start next week perhaps.

November 13, 2021 at 12:53AM
Justin Low
https://ift.tt/3kvxAya