February 2, 2023

Forex Solution

Learn To Trade Forex

Steady tones for the most part

2 min read


Forex news from the European trading session – 21 April 2021



  • NZD leads, EUR lags on the day
  • European equities higher; S&P 500 futures flat
  • US 10-year yields up 1.2 bps to 1.57%
  • Gold up 0.2% to $1,782.76
  • WTI down 1.6% to $61.67
  • Bitcoin down 3.9% to $54,595

It was a quiet and steady session for the most part with market participants having little to work with awaiting Wall Street to enter the fray.

European equities are finding some footing after the rout yesterday with US futures keeping flattish, treading water with a sense of trepidation on the day.

The dollar is a trading mixed and holding steadier after the producing a turnaround to push higher yesterday. EUR/USD stayed on the retreat, falling from 1.2030 to 1.2000 but buyers are hanging on to the figure level for the time being.

USD/JPY is largely unchanged around 108.00-20 with large options expiries rolling off tomorrow just above 108.00 something to keep in view over the next few sessions.

Other major currencies showed little change in general as the market stuck with a more tepid mood in European morning trade.

The loonie is seen sticking close to 1.2600 against the dollar ahead of the BOC, where a taper certainly seems likely. You can check out Adam’s comprehensive preview here.

Elsewhere, oil is seen on the backfoot again as it is down by over 1.6% to $61.67 and testing some key near-term levels for now.

It is still largely about risk flows and technicals on the week, with the market not really having much to play around with in terms of headlines and economic data.


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