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Euro little higher, calm tones all around in European FX news.

  • 13 August, 2021
  • 4:32 pm EEST

Euro little higher, calm tones all around in European FX news.

Forex market news from the European trade session on August 13, 2021

In terms of headlines, it was a calm session, and market action was relatively modest as the week came to a close.

The major currencies were quiet as Europe’s summer doldrums continued, but the euro did see some small action in the late morning as it climbed upward.

EUR/USD has risen from 1.1740 to 1.1760 and is currently battling daily resistance between 1.1750-55, with buyers looking to break the recent bearish momentum.

USD/JPY fell from 110.40 to 110.20 as Treasury rates struggled to find any direction, finishing the session marginally lower. However, USD/JPY still has near-term support near 110.00, so the rise today isn’t significant.

Meanwhile, cable briefly set new lows in over two weeks below 1.3800 before recovering some ground to 1.3820. Elsewhere, commodity currencies are more restrained and have been trading rather flatly against the US dollar.

In terms of equities, European indices are continuing having a fantastic week, with the DAX reaching 16,000 for the first time as small gains continue to mount up. US futures are more subdued, but the shift from technology to value appears to be holding.

 

Markets News :

  • CHF leads, USD lags on the day
  • European equities slightly higher; S&P 500 futures flat
  • US 10-year yields down 1.2 bps to 1.349%
  • Gold up 0.3% to $1,759
  • WTI flat at $68.90
  • Bitcoin up 4% to $46,237

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