FOREX NEWS

ForexLive European FX news wrap: Dollar slightly lower, ECB coming up – ForexLive


Forex news from the European trading session – 9 September 2021

Headlines:

Markets:

  • GBP leads, CAD lags on the day
  • European equities lower; S&P 500 futures down 0.2%
  • US 10-year yields down 1.1 bps to 1.329%
  • Gold up 0.6% to $1,798.88
  • WTI up 0.6% to $69.73
  • Bitcoin up 0.6% to $46,328

It was a quiet session as the market treaded with more caution amid some indecision still on the week thus far.

The dollar nudged a little lower alongside Treasury yields, giving back the gains seen earlier in the week amid more of a push and pull for the time being.

That comes despite a softer tone in equities with European indices sitting lower across the board while US futures are also pointing towards a slightly weaker open.

USD/JPY fell from 110.20 to 109.90 as Treasury yields also eased from 1.34% to 1.32% during the session, while GBP/USD climbed up from 1.3775 to 1.3825 as pound buyers look to try and seize back near-term control after the turnaround yesterday.

The kiwi is also maintaining a modest advance against the greenback as NZD/USD moves up from 0.7090 to 0.7115 as the kiwi continues its revival considering the improved virus situation in New Zealand, teeing up a move by the RBNZ next month.

Meanwhile, EUR/USD is up slightly from 1.1815 to 1.1830 ahead of the ECB policy meeting decision later, as traders work with a bit of a softer dollar for now.

Essentially, the market continues to look more rangebound and caught in a push and pull as Fed taper expectations stay on track but perhaps a more confusing message amid growing economic risks isn’t helping and leading to some indecisiveness for now.

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