European Forex news roundup: the dollar remains stable, as equities make a little advance.
Forex market headlines from the European trade session on September 30, 2021
The European session saw some minor pushing and pulling as the focus today is on month-end and quarter-end trading, with US traders poised to enter the fray and work through it all as September comes to a conclusion.
The dollar is trading uneven but in a decent technical position, shedding some ground against commodity currencies as stocks remain firmer so far.
The bond market is less enthusiastic, as it was yesterday, but we’ll see if the dollar’s gains from Wednesday continue, as suggested by Citi’s month-end rebalancing model.
The EUR/USD remains under pressure, trading at 1.1570-80, its lowest level since July of last year, as the downside momentum continues.
USD/JPY remains robust, fighting the 112.00 level as buyers seek a firm break over the figure level, while GBP/USD maintains a little rise after recovering from lows of 1.3416 to trade around 1.3440 levels at the moment.
Meanwhile, the AUD/USD is up a tad to 0.7195, having risen from 0.7215 earlier. And the USD/CAD is down somewhat to 1.2730-40 levels, although still off the high of 1.2757 set earlier.
The minor weakening in risk gains coincides with a slight pullback in US futures, with S&P 500 futures now up only 0.4 % after rising as much as 0.9 % earlier.
The session ahead is all about month-end and quarter-end, but looking beyond that, technicals will have a greater influence on dollar pairs in general. In addition, the persistent focus on energy prices and bond yields will be a factor.
Natural gas is up another 4% today as the bullish trend continues.
Markets News :
- AUD leads, EUR lags on the day
- European equities higher; S&P 500 futures up 0.4%
- US 10-year yields flat at 1.524%
- Gold down 0.1% to $1,725.46
- WTI down 0.8% to $74.07
- Bitcoin up 3.5% to $42,988