Forex news from the European trading session – December 3, 2021
- CHF is ahead, AUD is late for the day
- European equities slightly up; S&P 500 flat term
- US 10-year yields drop 1.8bp to 1.431%
- Gold up 0.2% to $ 1,772.34
- WTI up 2.8% to $ 68.34
- Bitcoin up 0.1% to $ 56,969
It was a quiet session for the most part, as the major currencies didn’t do much except a noticeable drop for the Aussie and the Kiwi, due more to a technical drop than to any. something else.
The dollar was largely flat with EUR / USD remaining around 1.1290-00 levels for the most part while USD / JPY edged up 113.20 to 113.40 during the session.
The overall risk mood remains more subdued as US futures recovered from an early decline in Asia amid fears from omicron in the US of keeping levels stable throughout.
European indices also showed little balance as Treasury yields were seen curvy as investors eagerly awaited U.S. nonfarm wages later.
Getting back to the Aussie and Kiwi moves, both currencies are slightly lower as they threaten a firmer breakout below their August lows against the dollar.
I pointed out more on this earlier today here.
Elsewhere, oil retains a decent rebound from yesterday’s OPEC + decision, but omicron concerns still dampen any significant bullish push for now.
Headlines on viruses will continue to be critical alongside the US jobs report later, which will be seen as a litmus test for all the Fed’s hawkishness over the past week.