10.2 C

Kiwi sticks with gains, risk appetite lukewarm

Must read

Forex news from the European trading session – 4 August 2021



  • NZD leads, CAD lags on the day
  • European equities higher; S&P 500 futures down 0.2%
  • US 10-year yields up 0.8 bps to 1.182%
  • Gold up 0.4% to $1,817.30
  • WTI down 1.1% to $69.80
  • Bitcoin flat at $38,100

It was a quiet session for the most part with euro area services PMI readings mainly just reaffirming the more robust recovery in the midst of summer, although rising cost inflation may yet still pose a problem for the region in the months ahead.

European equities are keeping a slight advance while US futures are more tepid, indicating a bit of a mixed mood in terms of risk appetite.

Treasury yields remain steady for the most part but little changed, with perhaps the focus starting to turn towards the US non-farm payrolls release on Friday.

FX was also more subdued as the dollar continues to stay rather vulnerable, with USD/JPY hovering around 109.00 still and looking to test waters below that.

EUR/USD price action is more subdued around 1.1860-70 with large expiries seen anchoring the pair around 1.1830-60 on the day.

The kiwi is the lead gainer though as NZD/USD pushed up from 0.7050 to 0.7080, extending gains from Asia Pacific trading after a more solid RBNZ jobs report.

The aussie is also seeing a decent advance, with AUD/USD moving up from 0.7400 to 0.7410-20 levels currently, benefiting slightly from the stronger kiwi too.

Elsewhere, oil continues to track lower in a fall below $70 with talk of demand fears still present as China takes further action to try and curb the spread of the delta variant.

That is helping to see USD/CAD keep a mild advance, with the pair moving up from 1.2520 to 1.2540-50 levels ahead of North American trading.

Source link

- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article