Wednesday , 6 November 2024
Home Forex A quiet session so far in European morning trade
Forex

A quiet session so far in European morning trade

This is more or less what happens when market players don’t get their fix. It’s all about economic data these days and there hasn’t been any ones this week that stood out. The focus turned towards the bond market and rising yields but even that has cooled off in the past few sessions. 10-year Treasury yields are flat today at 4.202% currently. As such, currency traders are not finding much appetite on the day as well.

Dollar pairs are little changed for the most part with just some light extension to the narrow ranges in European morning trade.

USD/JPY is nudging back towards 152.00 after a fall in the handover from Asia, with the 100-hour moving average being defended at around 151.45 at the time. The 200-day moving average at 151.40 is also providing some extra support on the daily chart for now.

Besides that, there’s not much else with most other major currencies keeping more muted. Equities are just a touch higher on the day but as a whole this week are still holding lower. US futures are up by 0.2% though and that might invite some interest from Wall Street to try and salvage something on the week before the weekend break.

In terms of data releases, there is the Canadian retail sales to look out for later. After that, it’ll be a bit of a wait again until we get to the US JOLTS job openings on Tuesday. As for other key risk events, just be mindful of the Japanese elections this weekend.

This article was written by Justin Low at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

MUFG says GBP is less vulnerable to Trump tariffs than others

Analysts at MUFG say sterling is less vulnerable to tariffs than the...

Brasil’s central bank has hiked its benchmark rate by 50bp to 11.25%, as expected

Banco Central do Brasil Monetary Policy Committee (Copom) decision:Decision was unanimous.Pace of...

US Vice President Kamala Harris speaking now – live link

Harris giving her concession speech after the election. If you are interested:...

Japan looks to tighten cryptocurrency exchanges (websites) asset rules

Japan's financial watchdog looks to put legal curbs in place to prevent...