Forex news from the European stock exchange session – November 23, 2021
- Euro leads, NZD lags on this day
- European equities down; S&P 500 Futures -0.1%
- US 10-year yields up 3.3bp to 1.658%
- Gold drops 0.5% to $ 1,796.02
- WTI down 0.3% to $ 76.50
- Bitcoin up 0.1% to $ 56,335
It has been a lively session in Europe with back-and-forth dollar trading as the market continues to settle the rate / inflation debate, with the Turkish Lira also imploding further during the week as the USD / TRY approaches. from 1:00 p.m .:
The greenback had a mixed performance early on, with the USD / JPY hitting an air pocket above 115.00 in a rapid drop to 114.50 before gradually rising again through the day.
This move is helped by a further rise in bond yields, with yields on long-term Treasuries rising notably during the session. 10-year rates are up over 3bp to almost 1.66%.
The euro was supported early on by PMIs in France and Germany, which belies the underlying sentiment on the outlook, with EUR / USD trading at 1.1270 before retreating to 1.1230-40 for now.
The loonie and the kiwi are among two laggards that held their ground at the bottom of the rankings today, the former being weighed down by higher oil prices, although moods have improved since the announcement of the publication of the Biden SPR.
To extend that, oil prices were initially subdued – as per mood over the past two weeks – before dropping to $ 75.70 before SPR news saw a slight dip to $ 75.30. But with the overall risk pushed aside, buyers step in and oil recovers its losses to be down 0.3% on the day to $ 76.50 now.
Elsewhere, stocks were more subdued, but European indices at least ignored losses of more than 1% earlier to stay slightly lower that day. Meanwhile, US futures also fell around 0.4% to 0.6%, but reduced most of that to almost stable levels.