European Forex news wrap: Dollar remains stable awaits the announcement of NFP
Forex news from the European trading session – 6 August 2021 :
It was a calm session in European morning trade, as it was more of a warm-up for the major event later today, which is US non-farm payrolls.
The dollar remained stable throughout the morning as other currencies remained in smaller ranges, albeit the euro did ease somewhat on the session.
EUR/USD plummeted from 1.1825 to 1.1800, while EUR/GBP fell to new four-month lows as the pair maintained its negative momentum below 0.8500 yesterday, falling to 0.8480.
Other dollar pairs are similarly unchanged, with GBP/USD being slightly above 1.3900 and USD/JPY remaining close to 109.80 for the time being.
Since Asia Pacific trading, the AUD/USD has been somewhat lower, hovering around 0.7380-90.
Equities are more cautious as they await the jobs report, while Treasury rates have maintained their early-week rally, with 10-year yields increasing roughly 4 basis points to above 1.25 % .
In the commodities market, gold is trading just below $1,800, while oil is gaining ground on its way back to $70, up 1.4 % on the day.
Markets News :
- CAD leads, EUR lags on the day
- European equities slightly higher; S&P 500 futures up 0.1%
- US 10-year yields up 3.8 bps to 1.255%
- Gold down 0.3% to $1,798.15
- WTI up 1.4% to $70.08
- Bitcoin down 0.5% to $40,675
