European Forex news roundup: The dollar is weakening as the US CPI and FOMC minutes are released.
Forex market news from the European trade session on October 13, 2021
For the most part, it was a quiet session as the market moved around a little, with FX and bonds maintaining a similar attitude from yesterday.
Treasury rates are looking pretty lukewarm following yesterday’s decline, with the dollar being modestly impacted but not overly so.
However, the USD/JPY has been quite stable, hovering around 113.50-60 throughout after recovering from an early loss to 113.35 in Asia Pacific trading.
EUR/USD is up 0.3 % to 1.1560, while GBP/USD is also trading over 1.3600, around 1.3620-30. Meanwhile, the USD/CAD is trading at the day’s lows of 1.2435, with sellers aiming for the July low of 1.2422 as oil prices fall.
The EURUSD is moving lower after the CPI data. The wage data rose 0.8% which has inflationary fears increasing. US yields have moved a higher after the report. Russia’s Putin is also speaking saying th will prices could reach hundred dollars a barrel. That has crude oil ticking higher. With yields moving higher, the the price of gold is giving back gains and trades up only $4.50. It was up over $16.50 at the start of the US session
The overall risk sentiment is marginally better than it was earlier, with US futures slightly higher currently, but all eyes will be on US inflation data and the FOMC minutes release later in the day for firmer direction.
Markets News :
- CHF leads, USD lags on the day
- European equities mixed; S&P 500 futures up 0.2%
- US 10-year yields down 1.2 bps to 1.568%
- Gold up 0.8% to $1,773.61
- WTI down 0.9% to $79.92
- Bitcoin down 0.2% to $55,216