European Forex news roundup: The dollar is timid, with the Fed in focus tomorrow.
The latest forex news from the European trade session on December 14, 2021.
As we continue to count down to the big central bank meetings later this week, the market attitude remains increasingly cautious.
Equities remained cautious, with US futures fading Asia’s early excitement during the day. S&P 500 futures gave up about 0.3 % of their gains to fall by 0.4 % before paring it a little now. Following yesterday’s falls, European indices maintained a somewhat more upbeat tone, but nothing too noteworthy.
Treasury yields are slightly higher on the day, but not significantly so, as investors continue to await the Fed’s decision.
The dollar retained a modest increase early in the day, but is now trading more mixed on the day. EUR/USD dipped to 1.1267 before recovering to trade at 1.1325.
USD/JPY fell slightly from 113.75 to 113.55 and has remained there for the time being. Meanwhile, GBP/USD is avoiding a retest of 1.3200, climbing to 1.3250 despite UK omicron concerns.
Elsewhere, commodity currencies did not fare well, and are trading little changed against the US dollar.
In essence, the market appears to be more mixed as investors await the Fed’s decision. This is the main event this week, with other major central banks stepping into the spotlight on Thursday.
EUR/USD continues to trade in the positive territory above 1.1300 to start the American session on Tuesday. The data from the US showed that the annual Core PPI jumped to 7.5% in November. Although this reading surpassed the market expectation of 7.2% the greenback remains on the back foot.
EUR/GBP remains on the back foot around daily lows near 0.8535, down 0.07% intraday ahead of the UK jobs report, up for publishing amid early Tuesday.
Markets News :
- EUR and CHF lead, AUD lags on the day
- European equities slightly higher; S&P 500 futures down 0.1%
- US 10-year yields up 1.4 bps to 1.437%
- Gold down 0.2% to $1,83.40
- WTI up 0.3% to $71.51
- Bitcoin up 1.8% to $47,150