ForexLive European FX news wrap: Currencies tepid as risk chops around

Forex

Forex news from the European morning session – 17 June 2020

Headlines:

Markets:

  • CHF leads, EUR lags on the day
  • European equities a little higher; E-minis up 0.4%
  • US 10-year yields flat at 0.75%
  • Gold down 0.5% to $ 1,717.82
  • WTI down 1.7% to $ 37.72
  • Bitcoin down 0.2% to $ 9,477

EOD 17-06
It was a largely quiet session as the risk mood ebbed and flowed after some jitters seen in US trading yesterday kept the positive vibes in-check.

European equities kicked off the session on a stronger note but that faded mid-way through before buyers stepped in to keep the mood a little better currently.

The choppy moves in risk saw the dollar also settle more mixed across the board with EUR/USD falling from 1.1294 to 1.1225 and is testing support at 1.1213-27.

Meanwhile, AUD/USD eased from 0.6920 to 0.6860 before creeping back up to near unchanged levels now as US futures keep a little higher.

Cable was also more choppy during the session, touching 1.2589 and testing its 100-hour moving average before falling to 1.2524 and is now at 1.2550-60 levels.

It is still largely all about the risk mood and all eyes will turn back towards coronavirus headlines from the US once again, after the headlines from yesterday.

The battle between cheap money and coronavirus fears is still very much playing out.

Fed chair Powell is due to speak in Congress again but it should mostly be a repeat of yesterday’s remarks – which were a repeat of his FOMC press conference.

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