ForexLive European FX news wrap: Dollar little changed with Fed minutes in focus
Headlines:Dollar holds steady, awaits FOMC meeting minutesGold continues to shine in trading this weekChinese stocks keep with the rebound but squares up against key technical testUK February CBI trends total orders -20 vs -30 priorUS MBA mortgage applications w.e. 16 February -10.6% vs -2.3% priorJapan downgrades view on economy on consumer strugglesGerman Cabinet reportedly approves report slashing GDP growth forecast for this yearMarkets:NZD leads, EUR lags on the dayEuropean equities mostly higher; S&P 500 futures down 0.2%US 10-year yields down 1.5 bps to 4.26%Gold up 0.3% to $2,028.74WTI crude down 0.5% to $76.26Bitcoin down 1.6% to $51,190It was a quiet session once again, as traders wait on the Fed minutes later today. The lack of key economic data releases so far this week has made for some rather muted trading action, especially in major currencies.The dollar is keeping steadier, trading near flat levels against most of the majors on the session. EUR/USD is little changed near 1.0800 while USD/JPY is also in a similar spot near the 150.00 mark.It is only the kiwi that is seeing a slight advance, with NZD/USD building on yesterday's nudge higher as it is up 0.3% to 0.6180 at the moment. Besides that, overall sentiment is mostly subdued in the FX space. And that comes as bond yields are slightly lower on the day but nothing significant compared to the moves last week.In the equities space, European stocks are still holding up well while US futures are down as tech shares look jittery. Nvidia earnings after the close today is the key risk event to watch for equities.As for commodities, gold is keeping up its good form as the rebound from last week continues. The precious metal is up another 0.3% to $2,028 currently but off earlier highs near $2,032. Meanwhile, natural gas is looking to come up for air after having been beaten down for over a month. This article was written by Justin Low at www.forexlive.com.
Headlines:
- Dollar holds steady, awaits FOMC meeting minutes
- Gold continues to shine in trading this week
- Chinese stocks keep with the rebound but squares up against key technical test
- UK February CBI trends total orders -20 vs -30 prior
- US MBA mortgage applications w.e. 16 February -10.6% vs -2.3% prior
- Japan downgrades view on economy on consumer struggles
- German Cabinet reportedly approves report slashing GDP growth forecast for this year
Markets:
- NZD leads, EUR lags on the day
- European equities mostly higher; S&P 500 futures down 0.2%
- US 10-year yields down 1.5 bps to 4.26%
- Gold up 0.3% to $2,028.74
- WTI crude down 0.5% to $76.26
- Bitcoin down 1.6% to $51,190
It was a quiet session once again, as traders wait on the Fed minutes later today. The lack of key economic data releases so far this week has made for some rather muted trading action, especially in major currencies.
The dollar is keeping steadier, trading near flat levels against most of the majors on the session. EUR/USD is little changed near 1.0800 while USD/JPY is also in a similar spot near the 150.00 mark.
It is only the kiwi that is seeing a slight advance, with NZD/USD building on yesterday's nudge higher as it is up 0.3% to 0.6180 at the moment. Besides that, overall sentiment is mostly subdued in the FX space. And that comes as bond yields are slightly lower on the day but nothing significant compared to the moves last week.
In the equities space, European stocks are still holding up well while US futures are down as tech shares look jittery. Nvidia earnings after the close today is the key risk event to watch for equities.
As for commodities, gold is keeping up its good form as the rebound from last week continues. The precious metal is up another 0.3% to $2,028 currently but off earlier highs near $2,032. Meanwhile, natural gas is looking to come up for air after having been beaten down for over a month. This article was written by Justin Low at www.forexlive.com.
