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Forex news from the European trading session – October 28, 2021



  • JPY in the lead, CHF late on the day
  • European mixed equities; S&P 500 futures up 0.3%
  • US 10-year yields up 1.4bp to 1.543%
  • Gold up 0.1% to $ 1,798.50
  • WTI down 1.5% to $ 81.43
  • Bitcoin up 3.5% to $ 60,968

It was a relatively quiet session for FX as the action moved back to the bond market in European morning trading.

The yield curve on Treasuries flattened further, with 2-10 rates at their lowest since early August, with 2-year yields rising nearly 7bp to 0.56%, while 10-year yields only increase a little over 1bp to hit just over 1.54% on the day. .

This keeps the Yen a bit firmer as the USD / JPY hit the 113.50-60 levels during the session.

The dollar trades little change and is mixed elsewhere, with EUR / USD still hovering around the 1.1590-00 levels for the most part ahead of the ECB later.

USD / CAD was little changed and holds around 1.2355-70 as sellers still struggle to hold onto the sharp downward movement from the more bellicose BOC tilt yesterday.

Elsewhere, the AUD / USD is holding around the 0.7500-10 levels as price action is still caught somewhat above key near-term levels, but not above its 200-day moving average. at 0.7557.

In the equity space, US futures are seen higher after Wall St suffered a late setback yesterday, with tech stocks leading the charge again on that day. Nasdaq futures are up 0.5% as risk is still very much present in month-end trading.


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