Forex news from the European trading session – 26 May 2021
Headlines:
Markets:
- NZD leads, EUR lags on the day
- European equities lower; S&P 500 futures up 0.3%
- US 10-year yields flat at 1.56%
- Gold up 0.3% to $1,905.52
- WTI down 0.4% to $65.84
- Bitcoin up 6.1% to $39,929
It was a quiet session but there were some interesting happenings in the market with one flying a little under the radar being ECB board member Fabio Panetta’s remarks, which is a bit of a contrast to what we have been hearing from policymakers as of late.
That kept the euro a little nervy as the single currency gave back gains from yesterday in a fall from 1.2255to 1.2220 levels currently against the dollar.
That sets up a very interesting approach towards the 10 June ECB policy meeting.
Besides that, the onshore Chinese yuan advanced past 6.40 against the dollar for the first time since 2018 – following a similar move in the offshore yuan yesterday.
But the dollar is keeping steadier overall with little change across most major currency pairs on the session, with exception to the kiwi.
NZD/USD kept higher post-RBNZ and stuck with gains around 0.7300-10 though buyers remain tentative to extend the upside momentum from there.
Risk is keeping in a decent spot but a little mixed as European indices slipped but US futures are holding a little higher on the session.