ForexLive European FX news wrap: Yen falls, USD mixed on better risk appetite


Securities:

Markets:

  • CAD leads, JPY lags the day
  • European stocks up; S&P 500 futures up 0.5%
  • US 10-year rates up 4.9 basis points to 3.241%
  • Gold apartment at $1,823.73
  • WTI crude up 1.5% at $111.19
  • Bitcoin up 0.4% to $20,975

It was a relatively quiet session with little on the agenda to really shake things up. Risk tones held more steady throughout the session as equities rose and bond yields rose as the Japanese yen tumbled during the session.

In terms of data, we saw German GfK consumer sentiment fall to its lowest level on record while French consumer confidence fell to its lowest since July 2013. That didn’t spoil the mood of investors though. equities, with European indices posting modest gains of around 1% across the board.

US futures also rose after a more thoughtful start to the day, with S&P 500 futures up about 21 points now.

This is to see the Dollar remain more mixed amid rising yields, with EUR/USD seeing some back and forth with the high touching 1.0605 before falling back to 1.0565 for the time being. GBP/USD also made a small round trip from 1.2260 to 1.2290 before falling back to 1.2230 and holding just above now.

USD/JPY has made a gradual ascent from 135.30 to 136.30 and is holding just above 136.00 for now.

Meanwhile, the loonie and Aussie are seeing modest gains amid better risk appetite with USD/CAD down 0.3% at 1.2835 and AUD/USD up 0.3% at 0.6945 at the moment. Gains are rather measured although USD/CAD fell to new 2-week lows with rising oil prices also helping. WTI crude is up 1.5% to top $111 on the day.

It all depends on the mood of risk before we even get to month-end trading, as markets continue to digest and elaborate central bank motives in general. Eurozone inflation data will be a focal point in the coming days, so more action could be seen in euro and European bond yields as we assess the ECB’s decision in July. .


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