Forexlive European FX news wrap 29 Aug – Euro moves lower on soft German inflation figures

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Markets:

  • NZD leads, EUR lags on the day
  • European equities higher;
    S&P 500 futures up 0.18%
  • US 10-year yields down 1 bps to 3.829%
  • Gold up 0.75% to $2,522
  • WTI
    crude up 0.32% to $74.76
  • Bitcoin
    up 1.63% to $60,005

It was a more lively session today with some notable moves in the FX and equity markets. The EUR has been the most notable mover in the FX space as the single currency fell on soft German statewide CPI figures. Note though, that the market’s pricing for ECB rates was unchanged.

In the equity space, we’ve seen the S&P 500 and the Nasdaq erasing most of yesterday’s weakness although the lack of catalysts will likely keep the price action rangebound until next week.

Overall though, there wasn’t any notable news release or development in the macro or geopolitical space and we keep waiting for next week where we will get many top-tier economic data including the NFP report.

The attention will now switch to the US jobless claims figures where we will likely need initial claims to spike above the 260K level to trigger a big market reaction.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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