Category: Forex News

ForexLive European FX news wrap: Yen gains ebb, Bitcoin rebound holds strong



  • JPY leads, CHF lags on the day
  • European equities higher; S&P 500 futures up 0.4%
  • US 10-year yields up 0.8 bps to 4.144%
  • Gold up 0.3% to $2,134.31
  • WTI crude up 0.8% to $78.81
  • Bitcoin up 4.4% to $66,150

It was mostly another quiet session for major currencies as the likes of Bitcoin and gold continue to hog the spotlight this week.

The former was an early mover as the rebound off the $60,000 mark overnight intensified ahead of European trading. Bitcoin rose all the way up to $67,645 before moderating around the $66,000 level during the session.

Meanwhile, stocks also perked up as tech shares are once again driving the upside momentum. US futures were flattish early on but S&P 500 futures are now up 0.4% with Nasdaq futures up 0.8% as risk lights up. The bond market was more tepid, so that isn’t leaving much to work with for the dollar in general.

In FX, a report saying that the BOJ might offer up a hint to the end of negative rates in March was enough to see the Japanese yen nudge higher. USD/JPY fell from 149.75 to 149.30 before keeping around 149.50-60 levels now as it gets stuck back into its technical box here.

Besides that, the dollar is slightly lower with EUR/USD up 0.1% to 1.0867 with large option expiries holding price action intact. AUD/USD is seen up 0.3% to 0.6520 but holding within the confines of last week.

Looking at the other key mover since last week, gold is a bit quieter today but is maintaining a slight advance to near $2,134. The bids in the last few days tend to come in US trading, so let’s see if that will again be the case today.

Coming up, we have the ADP employment data, Fed chair Powell’s testimony, and the Bank of Canada policy decision to keep things interesting for the remainder of the day.

Source link

Discover more from BIPNs

Subscribe to get the latest posts to your email.

Come to my page!

Written by : Editorial team of BIPNs

Main team of content of Any type of content should be approved by us.

Share this article:

Share your opinion. And leave a reply within the comments from below.

Discover more from BIPNs

Subscribe to get the latest posts to your email.