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Dollar steady in quiet start

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Forex news from the European trading session – 28 June 2021

Headlines:

Markets:

  • GBP leads, NZD lags on the day
  • European equities mixed; S&P 500 futures up 0.1%
  • US 10-year yields down 1.5 bps to 1.509%
  • Gold down 0.4% to $1,774.21
  • WTI down 0.1% to $73.97
  • Bitcoin up 4.4% to $34,079

It is a relatively quiet start to the new week though the dollar is keeping more resilient and steadier despite little action elsewhere in the market.

Commodity currencies are the laggards after a bit of a slow period early on, with AUD/USD falling from 0.7590 to 0.7560 and NZD/USD slipping from 0.7070 to 0.7035.

USD/CAD also saw a bit of an upside push from 1.2300 to 1.2330 even as oil prices are keeping relatively steady ahead of the OPEC+ meeting later this week.

The pound was also a decent mover as cable ran up from 1.3900 to 1.3940 only to stall at near-term resistance levels once again before the gains were wiped out.

There weren’t any key headlines as we still await a couple of key things later in the week.

Elsewhere, equities are a bit mixed and tepid while Treasury yields are down slightly.



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