European Forex news roundup: The dollar is divided as markets remain tranquil.
Forex market news during the European trade session on November 1, 2021
Overall, it was a reasonably tranquil and stable session, with some light market action to begin the new week/month.
The dollar is remaining more volatile, with gains against the yen and pound offset by losses against the franc and kiwi.
For the most part, EUR/USD traded around 1.1550-60 before rising slightly to 1.1575, but it is still a long way from crucial near-term resistance levels.
The USD/JPY is retaining its gains, but has slipped from 114.40 to 114.20. Meanwhile, cable slipped from 1.3680 to 1.3643 before recovering to approximately 1.3670.
In other news, the AUD/USD flirted with a breach below important near-term support at 0.7500, but has since made its way back up to 0.7510-15; it is still weaker on the day.
Equities remain generally positive, with US futures advancing and up around 0.4 % , while European indices are also rising, with the Stoxx 600 reaching new highs.
Bond rates are also rising, albeit in a more regular manner rather than the front-end bursting that we witnessed last week. However, with the spotlight shifting to central banks later this week, rates will be closely monitored.
Things are bound to heat up in the coming days, with the RBA, Fed, and BOE all on the docket (not to mention non-farm payrolls on Friday).
Markets News :
- NZD leads, GBP lags on the day
- European equities higher; S&P 500 futures up 0.4%
- US 10-year yields up 2.6 bps to 1.582%
- Gold up 0.2% to $1,786.72
- WTI up 0.4% to $83.92
- Bitcoin down 0.7% to $61,958