Weekly forex futures positioning data from the CFTC for the week ending May 11, 2021.
– EUR long 94K vs 85K long last week. Longs increased by 9K
– GBP long 28K vs 20K long last week. Longs increased by 8K

100/200 hour MA at 0.7776 area 
The AUDUSD after testing the 100/200 hour area for 5 consecutive hourly bars has made a break for it with a break above the MA levels currently near converged at 0.7775 to 0.7777.  The price is currently trading at 0.7785.

100 day MA is at 13438.47 currently
The NASDAQ index continues its move to the upside and is currently trading up over 300 points or 2.3% at 13428.03 (that is the high). The last move to the upside took the price back above its 50 hour moving average currently at 13407.  The next target comes in at the 100 day

The press conference is scheduled for 1600 GMT
UK prime minister, Boris Johnson, did express some concern yesterday over virus variants but it is unlikely to see that derail plans on the economic reopening just yet.

ECB releases the minutes of its April policy meeting
Nothing that we don’t already know from the ECB since the meeting last month. Carry on as you will.

10-year Treasury yields down 2 bps to 1.637%
The high this week hit 1.70% but that seems a bit of a distance away now. In turn, that has also flipped the switch for some light pressure against the dollar today.

Nasdaq futures grind higher to be up 1%
European indices are also holding modest gains on the session, roughly between 0.4% to 0.6% at the moment. Nasdaq futures are leading gains in the US futures space, up 1.1% while S&P 500 futures are up 0.7% at the moment.

As confirmed by German health minister, Jens Spahn
That is good news as the vaccine progress starts to gather pace but much like how things have slowed down in the US, it might be a challenge for Europe once vaccinations in general start to reach the 50-60% mark.

Forex news from the European trading session – 13 May 2021
Headlines:
Markets:
– CHF leads, AUD lags on the day
– European equities lower; S&P 500 futures up 0.1%

S&P 500 futures up 0.1%
European indices have halved losses from earlier in the day but are still keeping roughly 1% lower across the board. This comes as US futures start to turn things around, with Nasdaq futures leading the bounce while S&P 500 futures inch a tad higher.