News

European FX news

  • 02 June, 2021
  • 3:25 pm EEST

In light of major headlines, the session was uneventful, but the dollar was active, as it found a buy early on and maintained gains throughout the morning in Europe.

Markets:

  • USD leads, CHF lags on the day
  • European equities higher; S&P 500 futures up 0.1%
  • US 10-year yields down 0.9 bps to 1.598%
  • Gold flat at $1,900.80
  • WTI up 1.0% to $68.40
  • Bitcoin up 2.7% to $37,325

Despite more suppressed risk sentiment and few signals from the bond market, this is the case.

The EUR/USD fell from 1.2210 to 1.2165, while the GBP/USD fell from 1.4150 to 1.4110 before rallying back to virtually unaltered levels. The Australian dollar fell slightly from 0.7740 to 0.7715, but is now hovering around 0.7730.

While the dollar’s gains are small, they aren’t doing much in terms of technical analysis, since price movement has remained within a narrow range for the past two weeks.

Oil, on the other hand, has gained and is still looking for a breakout over $68, so keep an eye on it later today and this week.

Today’s news briefing:

  • Concerns of premature policy easing, according to the CBRT governor, should be ignored.
  • MBA mortgage applications in the United States decreased by 4.0% as of May 28th, compared to -4.2% the previous month.
  • RBA’s Debelle: Wage growth will not be sufficient until 2024 in the Eurozone Eurozone April PPI +1.0% vs +1.0% m/m predicted
  • The ECB’s Knot: Europe’s recovery appears to be moving faster than expected.
  • Germany¬† April retail sales -5.5 % m/m vs. -2.5% forecast.
  • BOJ’s Adachi: The decision not to buy ETFs in May was correct and timely.
  • According to reports from Germany In today’s update, there were 4,917 new coronavirus infections and 179 deaths.

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