Forexlive European FX news wrap 28 Aug – An uneventful session

• Japan’s Trade Ministry eyes 2.3596 trillion yen for FY2025/26 budget
• US MBA mortgage applications w.e. 23 August 0.5% vs -10.1% prior
• Wang Yi urges US to treat China as equal and halt suppression in trade and tech
• JP Morgan joins other banks looking for more USD downside
• WTI gives up all the Libya gains and trades below $75
• Knowing election results in advance doesn’t give an investing edge
• Israeli US Egyptian Qatari negotiators meet in Doha for Gaza ceasefire talks
• Swiss investor sentiment -3.4 vs 9.4 prior
• Eurozone Money M3 annual growth 2.3 vs 2.7% expected
• What to expect from Nvidia’s report?
• Citi predicts zinc to reach $3100/t by 4Q with aluminium also set for gains
• Libya’s Sarir oil field nears shutdown as production is halted
• French consumer confidence 92 vs 92 expected
• What are the main events for today?
• Today’s FX option expiry levels for the NY cut
• Swedish trade balance 6.5B vs 8.7B prior
• BoJ Himino says there is no set timeframe for economic stability
• Sentiment mostly mixed across major asset classes
• Consumer confidence data shows further cooling in the labour market
• Interesting reaction in the AUD to today’s CPI data
• With Aussie CPI out of the way the calendar ahead is another quiet one

Markets:

• USD leads, EUR lags on the day
• European equities higher;
  S&P 500 futures flat
• US 10-year yields down 2 bps to
  3.806%
• Gold
  down 0.77% to $2,505
• WTI
  crude down 1.97% to $74.04
• Bitcoin
  up 1.03% to $60,047

It was yet another
quiet session with no market moving data. There wasn’t even any notable news
release. It was hard not to fall asleep.

In the
markets, there’s been very little movement. The only notable mover has been
crude oil as it extended the drop below the Monday’s spike level on Libyan oil
production halt news.

Looking
ahead, we just have Nvidia reporting earnings after the close.

This article was written by Giuseppe Dellamotta at www.forexlive.com.