Forex news from the European trading session – 13 July 2020
- AUD leads, JPY lags on the day
- European equities higher; E-minis up 0.7%
- US 10-year yields flat at 0.645%
- Gold up 0.6% to $ 1,808.70
- WTI down 1.6% to $ 39.90
- Bitcoin up 0.6% to $ 9,295
It was a largely quiet session once again as the summer lull keeps up in Europe.
Risk began the day on firmer footing and stayed that way throughout, with a slight pullback during the session but nothing too notable in the bigger picture.
European equities and US futures maintained their advance, with earnings season in Wall Street set to officially kick off this week.
The dollar was initially weaker before paring losses and is now trading more mixed across the board. EUR/USD fell from 1.1330 to 1.1295, testing its 100-hour moving average before climbing back to 1.1330 levels currently.
The pound held softer, with cable slipping from 1.2660 to 1.2600. Meanwhile, AUD/USD did little as it ranged around 0.6960-70 levels for the most part.
The yen also kept weaker amid the more hopeful and optimistic risk mood, with USD/JPY climbing from 106.90 to 107.10 during the session.
It’s a bit of a quiet start to the week so far but the days to follow should be more busy. Risk is on but let’s see whether buyers can stretch beyond key technical levels on the chart.
Among those, EUR/USD is still resting under the 1.1340-50 region, AUD/USD is settling under 0.7000, and NZD/USD is also capped by key daily resistance around 0.6585.