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European FX news roundup: Currencies are quiet, but risk appetite is high.

  • 02 August, 2021
  • 5:55 pm EEST

Market news

       Currencies are quiet, but risk appetite is high.

It was a calm session as a typical summer’s day cast its shadow over European morning trade, with major currencies showing minimal movement to kick off the month of August.

Risk appetite has improved as equities seek a rebound after Friday’s loss, but gains have been small and measured during the session. US futures have likewise stayed steady, with the S&P 500 futures currently up 0.4 % .

The bond market is reflecting some calmer tones, but yields are currently a little lower.

Having said that, everything combined couldn’t really excite FX, with the dollar lying a tad lower on the balance of things; nothing too substantial, though.

The EUR/USD has mostly remained stuck at 1.1870-80, with advances held in check closer to 1.1900. Large expiries are also observed at the figure level, so keep that in mind.

GBP/USD rose from 1.3900 to 1.3930 before falling again closer to the figure level. Elsewhere, the dollar is little moved against risk currencies, as smaller ranges continue to prevail heading into US trade.

In commodities, gold is down marginally but remains above $1,800 and its 100-day moving average of $1,802 for the time being. Oil is also down, but falls appear to be handled closer to the 100-hour moving average of $72.71, as the price currently stands near $73.

Meanwhile, Bitcoin’s weekend gain has slowed as the climb above $40,000 comes to an end, and the price is now down below the crucial level to begin the week.

 

Markets News :

  • AUD leads, NZD lags on the day
  • European equities higher; S&P 500 futures up 0.4%
  • US 10-year yields down 1 bps to 1.228%
  • Gold down 0.3% to $1,807.40
  • WTI down 1.4% to $72.93
  • Bitcoin down 2.7% to $39,549

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