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Forex news from the European stock exchange session – November 24, 2021

Securities:

Markets:

  • USD leads, NZD lags on this day
  • European equities down; S&P 500 futures down 0.3%
  • US 10-year yields stagnate at 1.667%
  • Gold down 0.3% to $ 1,785.11
  • WTI down 0.1% to $ 78.44
  • Bitcoin down 1.9% to $ 56,605

It was a decent session that saw some back and forth, but ultimately the background music in FX is the same as it has been for the past two weeks and it’s the dollar pushing higher again. with EUR / USD trailing to new sixteen-month lows. .

In the equity space, European indices opened higher only to slide and squeeze gains as sentiment eased with US futures moving from slight gains to negative on the session.

There weren’t any specific headlines, but concerns about the COVID-19 situation in Europe and some softer data certainly didn’t help improve the mood.

EUR / USD fell from 1.1230 to 1.1205 although buyers maintain a defense just above 1.1200 for now. Meanwhile, USD / JPY fell from 114.90 to 115.10 and cut past losses as Treasury yields also erased lower earlier to stabilize now.

GBP / USD has remained on the defensive as price has gradually moved lower to 1.3355 as sellers continue to try to seek new lows since December of last year.

Elsewhere, commodity-linked currencies also remain under pressure, with USD / CAD approaching 1.2700 and AUD / USD slipping 0.7220 to 0.7200.

The kiwi is lagging behind after the RBNZ hiked rates by 25bp, disappointing some of the more hawkish segments of the market who were hoping for a 50bp move.

The NZD / USD fell to 0.6895 early on before staying around the 0.6900-10 levels but is now pulling back to new lows on the eve of North American trading.


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