Wednesday , 6 November 2024
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ForexLive European FX news wrap: Dollar up slightly amid quiet markets

Headlines:

Markets:

  • USD leads, CHF lags on the day
  • European equities higher; S&P 500 futures up 0.1%
  • Gold down 0.1% to $2,654.73
  • WTI crude down 2.4% to $73.74
  • Bitcoin up 3.2% to $64,867

It was a quiet session as markets are marred by holidays in major markets. In Asia, Japan was out and looking to the session ahead, the US – partially – and Canada will be too.

That kept trading sentiment in a bit of a bind but in the last hour or so, we are seeing the dollar catch a light bid.

EUR/USD is down 0.2% to 1.0915 with USD/JPY up 0.4% to 149.70 on the day. The latter is trading to its highest levels since the start of August, as the dollar continues to keep on steadier footing since the start of the month.

The Swiss franc is the laggard on the day, with USD/CHF up 0.6% to 0.8625 and EUR/CHF up 0.4% to 0.9415. Is the SNB at work amid quiet markets?

Meanwhile, the antipodeans are also lagging slightly as the Chinese yuan is punished after a lack of stimulus details from a much anticipated press conference in China. AUD/USD is down 0.5% to 0.6715, keeping near the lows for the day currently.

In the equities space, European indices are a little higher with US futures also up slightly ahead of holiday thin trading in Wall Street later.

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

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