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European FX news roundup: The dollar is marginally higher as risk returns to the ebb and flow.

  • 08 September, 2021
  • 4:15 pm EEST

European FX news roundup: The dollar is marginally higher as risk returns to the ebb and flow.

Forex market news during the European trade session on September 8, 2021

There was some solid action in Europe today, with risk sentiment shifting to the ebb and flow as the market looks for new cues on the week.

The dollar gained some ground early on alongside the yen as risk trades fell, with European indexes falling by about 1% and US futures down by 0.4 % .

The weaker attitude has subsided, with European markets now down between 0.3 and 0.6 %  and US futures flat heading into North American trading.

As a result, currency movement was largely correlated with it, as the dollar gave up gains versus commodity currencies while remaining somewhat higher against the euro.

EUR/USD fell from 1.1840 to 1.1813 as sellers maintained near-term control and eyed a test of the 1.1800 mark ahead of the ECB meeting tomorrow.

USD/JPY rose to a high of 110.44 at the tail end of Asia Pacific trading before falling to 110.15 on softer risk sentiment and remaining in 110.25-30 for the time being.

In other news, the AUD/USD dipped from 0.7380 to 0.7350, but buyers are clinging to near-term support from the 200-hour moving average as the pair returns to 0.7380.

While risk appetite isn’t looking like it’s going to climb much more this week, it’s also not convinced of a dramatic change toward being entirely on the defensive just yet. Having said that, there are certain important considerations to keep in mind, as I mentioned earlier:

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Markets News :

  • NZD leads, EUR lags on the day
  • European equities lower; S&P 500 futures flat
  • US 10-year yields down 1.8 bps to 1.353%
  • Gold up 0.2% to $1,797.81
  • WTI up 1.5% to $69.40
  • Bitcoin down 0.6% to $46,540

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