- USD/JPY pauses for breath on the day
- Euro remains steady ahead of ECB meeting decision
- ECB meeting today to be a placeholder for July?
- Beijing’s Chaoyang district to close all entertainment venues for pandemic containment
Markets:
- JPY leads, AUD lags on the day
- European equities lower; S&P 500 futures up 0.5%
- US 10-year yields down 1 bps to 3.019%
- Gold down 0.3% to $1,846.93
- WTI crude flat at $119.76
- Bitcoin up 0.6% to $30,350
It was a quiet session as all eyes are fixed on the ECB policy meeting decision at 1145 GMT.
Major currencies didn’t show much appetite outside of the yen, which recouped back some of its staggering losses over the past week. USD/JPY fell from 134.00 to 133.20 and even with such a move, it barely feels like anything more than an ant bite to the unrelenting rally in the past two weeks.
The euro continues to keep steadier with EUR/USD little changed around 1.0720, awaiting Lagarde & co. later.
Bond yields are also little changed after a slight push higher at the start of the session, as traders are likely waiting on the ECB for clues on how to proceed before the end of the week. Meanwhile, European indices remain sluggish but US futures are pointing to a modest advance in a bit of a mixed showing in the equities space.
This article was written by Justin Low at www.forexlive.com.