ForexLive European FX news wrap: Yen edgy to start the week

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Headlines:

Markets:

  • EUR leads, USD lags on the day
  • European equities higher; S&P 500 futures up 0.1%
  • US 10-year yields up 0.8 bps to 4.265%
  • Gold up 0.2% to $2,325.58
  • WTI crude up 0.3% to $80.97
  • Bitcoin down 4.9% to $61,023

It was a quiet session as markets are slowly easing into the final trading week of June.

There’s not much on the agenda today, so that explains the lack of major headlines in European morning trade. The German Ifo business climate missed on estimates but fits with the stutter from the PMI data last week.

That didn’t do much to dent the euro though, as the single currency nudged higher alongside regional stocks. EUR/USD is seeing a bump higher from 1.0700 to 1.0730, with European equities also up modestly across the board.

The first round of the French election will be coming later this weekend, so do be wary of that.

Looking to other major currencies, the yen was a bit nervy as well earlier amid some light profit-taking. USD/JPY fell from 159.60 in a quick drop to 158.75 before holding back around 159.50 currently.

The dollar itself is a touch softer but little changed against the rest of the major currencies bloc.

Elsewhere, Bitcoin is a notable mover as it is dragged down to $61,000 again with the low earlier touching $60,605.

This article was written by Justin Low at www.forexlive.com.

Go to Forexlive

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