Forexlive European FX news wrap 9 July – An uneventful session

• US June NFIB small business optimism index 91.5 vs 90.5 prior
• ECB’s Panetta says can gradually reduce rates in line with disinflation process
• Powell to rock the boat later today?
• European stocks shoved lower at the open after the stutter yesterday
• BOJ shares briefing material on meeting with bond market participants
• What are the main events for today?
• Eurostoxx futures -0.1% in early European trading
• An uneventful calendar day set to greet European traders

It’s been an unevenful European session as the lack of economic data kept the markets at bay. The focus will now switch to Fed Chair Powell as he testifies to Congress. The expectations are for him to keep a neutral tone although he might lean more on the dovish side following the recent US data.

In the markets, the US Dollar is flat on the day as well as equities and gold. Treasury yields are a bit higher, while Bitcoin is up roughly 1.5% as the cryptocurrency continues to consolidate around the recent lows.

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