headlines:
Markets:
- Japanese Yen Advances, US Dollar Lags During the Day
- European stocks rise; CAC 40 up 0.8%
- Gold rises 0.1% to $2,358.40
- West Texas Intermediate crude fell 0.8% to $83.17.
- Bitcoin down 3.1% to $57,667
Being a holiday in the US, there wasn’t much for traders to work with either in European morning trading today.
The dollar remained flat, in line with yesterday’s sentiment after the ISM’s US services PMI data. The dollar was little changed in early trading but is now slightly lower across the board.
Changes in the euro and the pound were slight, but the USD/JPY pair fell by 0.4% to test the 161.00 level again during the day. Additionally, the USD/CHF pair fell by 0.2% to 0.8995 and the AUD/USD pair rose by 0.4% to currently 0.6730.
In equities, European indices were more hesitant at the start of trading but are now gaining momentum as French stocks continue to rally ahead of the second round of elections this weekend. Regional markets also appear to have passed the test of the latest French 10-year bond auction earlier in the day.
Additionally, there is a degree of focus on Bitcoin as it continues to slide to its lowest levels since early May. The cryptocurrency is under pressure as it dips below $60,000, with key technical indicators facing challenges during the week.
Liquidity conditions will be thin in US trading later, so be wary of that as the US dollar starts to see its resilience crack this week. All this ahead of tomorrow’s non-farm payrolls data.
