ForexLive European FX news wrap: Quiet and steady with the Easter break in focus

Forex

Forex news from the European trading session – 1 April 2021

Headlines:

Markets:

  • EUR leads, AUD lags on the day
  • European equities higher; E-minis up 0.3%
  • US 10-year yields down 2.4 bps to 1.716%
  • Gold up 0.4% to $ 1,714.65
  • WTI up 0.2% to $ 59.26
  • Bitcoin down 0.5% to $ 58,650

With the Easter holidays coming up, the market was rather disinterested to do much today after the Q1 ended with more of a whimper rather than a bang.

The dollar is keeping steadier, little changed overall as it gains slightly against the commodity currencies but is not budging against the likes of the euro and the pound.

AUD/USD fell to fresh lows since December last year down to 0.7532 before recouping some losses to 0.7550-60 levels currently. Likewise, NZD/USD fell to a low of 0.6946 before paring most of its losses to 0.6980 ahead of North American trading.

EUR/USD kept little changed but pushed a little higher from 1.1720 to 1.1750, though the 100-hour moving average is still limiting upside for now.

USD/JPY stayed little change in general around 110.60-70 levels with Treasury yields also not offering much on the session. European indices and US futures are keeping higher though, but there is little follow through risk-on moves elsewhere.

With the long weekend in focus, the market may not look to chase any extensive moves as risk allocations may wait until next week before returning after the quarter-end.

As a reminder, there is non-farm payrolls tomorrow but only FX and Treasuries (half-day) will be operating so expect thinner conditions to prevail until next Tuesday.

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