Forex News from the European Trading Session – August 27, 2020
- AUD leads, CHF is late on the day
- European equities a little lower; E-minis down 0.3%
- US 10-year yields down 1.3bp to 0.675%
- Gold down 0.6% to $ 1,942.70
- WTI down 0.8% to $ 43.04
- Bitcoin Down 1.3% to $ 11,369
It was a largely calm session as major currencies held in tighter ranges for the most part with the dollar looking mixed ahead of Fed Powell Chairman’s speech.
The dollar has been up slightly over the past hour or so, but has largely returned most of that as traders wait for what Powell has to say later today.
EUR / USD rose from 1.1830 to 1.1794 but is now back around 1.1810-20 while GBP / USD rose from 1.3200 to 1.3165 before returning to the number level now.
The USD / JPY got a slight boost during the session from 106.00 to 106.20, but that also eased into a bit of a noisy move, with the pair now around 106.00- 10.
Aussie and Kiwi are slightly higher but don’t really mean much on the session.
Elsewhere, equities look warmer and bond yields are a bit lower on the day. But all eyes are on Powell, so the first few moves – or the lack of them – don’t tell us much.