European Forex news roundup: The dollar has been stable so far this week.
Forex market news during the European trade session on November 22, 2021
For the most part, it was a calm afternoon, with FX seeing little movement in general and European equities meandering after a better start, as pandemic worries in Germany, in particular, kept a lid on optimism in the area.
Treasury rates are recovering back following Friday’s decline, particularly at the long end, but US futures are moving higher, indicating a mixed picture in the market.
For the most part, the dollar remained stable, with EUR/USD lingering around 1.1260-70 levels and USD/JPY remaining above 114.00 at roughly 114.05-20 for the session.
There was little movement elsewhere, but the Australian dollar is leading advances as the AUD/NZD bounces off technical support, as highlighted here. This is helping to maintain the AUD/USD more buoyant around 0.7250-60 and close to current highs.
Other than that, oil is still suffering, as it has been for the past two weeks, but there are critical support levels around, with the price sitting slightly lower on the day around $75.70.
On balance, it appears that the market is still figuring itself out, albeit the dollar remains in a solid situation – from a technical standpoint – as we enter the first stages of a holiday-shortened week.
Across other majors it was, as already referred to, a quiet beginning to the week. USD/JPY inched higher, continuing to cover its sharp downside move on Friday’s Europe time (the drop from 114.50 to 113.60-odd in an hour and a half). USD/CHF is up a few ticks alongside. Cable is a few points lower, as is EUR/USD
Markets News :
- AUD leads, EUR and JPY lag on the day
- European equities a little lower; S&P 500 futures up 0.3%
- US 10-year yields up 3.8 bps to 1.574%
- Gold down 0.2% to $1,841.06
- WTI down 0.3% to $75.70
- Bitcoin flat at $57,850