Forex news from the European trading session – 27 August 2020
- AUD leads, CHF lags on the day
- European equities a little lower; E-minis down 0.3%
- US 10-year yields down 1.3 bps to 0.675%
- Gold down 0.6% to $ 1,942.70
- WTI down 0.8% to $ 43.04
- Bitcoin down 1.3% to $ 11,369
It was a largely quiet session as major currencies kept in more narrow ranges for the most part with the dollar looking mixed ahead of Fed chair Powell’s speech.
The dollar did gain a slight bid in the past hour or so but has very much given most of that back as traders wait on what Powell has to say later today.
EUR/USD eased from 1.1830 to 1.1794 but is now back around 1.1810-20 while GBP/USD fell from 1.3200 to 1.3165 before moving back to the figure level now.
USD/JPY got a slight nudge higher during the session from 106.00 to 106.20 but that was faded as well in a bit of a noisy movement, with the pair now around 106.00-10.
The aussie and kiwi are mildly higher but not really signifying much on the session.
Elsewhere, equities are looking more tepid and bond yields are a little lower on the day. But all eyes are on Powell so the early moves – or lack thereof – aren’t telling us much.