Forex market news for the European trade session on October 28, 2021
Currencies remain quiet in Europe, but the yield curve continues to flatten.
In European morning trade, Forex activity was centered on the bond market once again, making for a relatively quiet session.
The Treasury yield curve flattened further, with 2s10s at their thinnest since early August, as 2-year yields rose over 7 basis points to 0.56 % on the day, while 10-year yields rose only slightly more than 1 basis point to just above 1.54 % .
This is keeping the yen firmer as the USD/JPY pair flirted with 113.50-60 levels during the session.
The dollar is trading little altered and mixed elsewhere, with EUR/USD remaining mostly stable around 1.1590-00 levels ahead of the ECB today.
The USD/CAD is little changed, hovering around 1.2355-70, as sellers struggle to maintain the steep move lower from yesterday’s more hawkish BOC lean.
Elsewhere, the AUD/USD is trading around 0.7500-10 levels, with price action remaining slightly above important near-term levels but failing to breach its 200-day moving average of 0.7557.
In the equity market, US futures are expected to rise after Wall Street suffered a late setback yesterday, with technology firms leading the charge once again on the day. Nasdaq futures are up 0.5 % as risk remains high as the month comes to a close.
Markets News :
- JPY leads, CHF lags on the day
- European equities mixed; S&P 500 futures up 0.3%
- US 10-year yields up 1.4 bps to 1.543%
- Gold up 0.1% to $1,798.50
- WTI down 1.5% to $81.43
- Bitcoin up 3.5% to $60,968