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European Forex news roundup: the dollar is marginally stronger, while equities are weaker.

  • 21 October, 2021
  • 5:54 pm EEST

European Forex news roundup: the dollar is marginally stronger, while equities are weaker.

Forex market news during the European trade session on October 21, 2021

For the most part, it was a quiet session as the dollar held steady while commodity currencies sank after an early surge in Asia Pacific trading.

A slightly softer risk sentiment in European morning trade may be keeping risk trades more cautious, as the Australian dollar slipped from 0.7540 early in the day to 0.7480 before settling around 0.7490-00 against the US dollar.

USD/CAD also rose from a low of 1.2290 at the start of the day to 1.2345, as oil prices are expected retreating from fresh 7-year highs overnight.

The dollar has remained pretty stable, with EUR/USD hovering around 1.1635-50, while GBP/USD has dipped from 1.3820 to 1.3790 before settling back around 1.3810 levels.

Despite bond yields being rising, the yen is the leading gainer, suggesting a retracement following the recent move higher in yen pairs.

During the session, USD/JPY remained in a narrower range around 113.95-10.

While the little retreat in stocks may be assisting with some minor risk aversion play, it is still insignificant in the broad scheme of things, especially when considering the advances since trading last week.

US equities remain within touching distance of all-time highs, and seasonals imply that we may be set for a Santa Claus surge in the coming weeks.

 

Markets News :

  • JPY leads, NZD lags on the day
  • European equities lower; S&P 500 futures down 0.3%
  • US 10-year yields up 1.3 bps to 1.671%
  • Gold down 0.2% to $1,778.10
  • WTI down 0.9% to $82.70
  • Bitcoin down 1.8% to $64,813

 

In other markets today:

  • Spot gold rose in reaction to the lower dollar. The price is up $12.35 or 0.72% at $1781.50.
  • Spot silver is also moving higher with a gain of $0.66 or 2.78% at $24.29.
  • Crude oil futures moved higher today after the Department of Energy announced a surprise drawdown inventories of -431K barrels. That was below the expected 1.857K gain and the private data surprise from last night that showed a 3.29M barrel surge.
  • Bitcoin continue to move to the upside after the SEC decision to allow ETF’s on bitcoin futures to trade. The price of bitcoin moved to a new all-time high price of $67,016 before rotating back toward $63,400 currently.

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