Live Markets, Charts & Financial News

ForexLive European FX news wrap: A bit of respite ahead of the US PCE report

0 5

headlines:

Markets:

  • Australian Dollar Advances, Yen Lags During the Day
  • European stocks rise; S&P 500 futures up 0.7%
  • The yield on the 10-year US Treasury note fell 1.9 basis points to 4.236%.
  • Gold rises 0.4% to $2,373.24
  • West Texas Intermediate crude fell 0.3% to $76.85.
  • Bitcoin price rises 3.0% to $67,231

Markets are taking a breather today, after the volatile risk sell-off of the past few days.

Equity markets are better, with S&P 500 futures seen up 0.7%, while technology stocks are finding some relief. European indices are also continuing their upward trend, with France’s CAC 40 seen up 0.9%, though it remains largely down for the week.

In the forex market, the USD/JPY pair is also continuing its overnight rebound towards 154.70 from around 153.80 earlier in the session. The pair’s 100-hour moving average is expected at 154.83 and will be a key near-term level to watch before the end of the week.

We also see traders taking some comfort, with AUD/USD up 0.3% to 0.6560 while USD/CHF is up 0.2% to 0.8835 on the day. The latter pair fell to its lowest since March yesterday but at least prevented a strong break below 0.8800.

In other markets, gold also rose 0.4% to $2,373, while Bitcoin rose about 3% to $67,231 currently.

All signs point to a brief respite as attention turns to the US Personal Consumption Expenditures report. This will be the barometer of how strong or weak overall sentiment is heading into the week.

Leave A Reply

Your email address will not be published.