Scroll Top
a-couple-of-releases-to-move-things-along-in-european-trading-today

A couple of releases to move things along in European trading today


The dollar is trading more mixed on the day as markets are still trying to find its footing amid the Israel-Hamas conflict. The flight to safety on Friday has not been completely unwound in most parts, outside of a strong rally in equities yesterday and a climb higher in Treasury yields.

It is mainly in the commodities space that things are still left wanting, with gold still keeping above $1,900 and WTI crude holding above $86 so far this week. That will be two interesting spots to watch especially with gold, as yields are ticking higher and the dollar continuing to hold steadier for the most part.

The greenback continues to sit in a firm spot as EUR/USD is hovering around 1.0540 levels for now, as sellers maintain a hold at the 23.6 Fib retracement level at 1.0643. Meanwhile, USD/JPY is also holding around 149.50 as buyers are staying poised to try and retest 150.00 – where Tokyo last intervened.

The US retail sales data today will be one to watch for any potential trigger in that sense. As for European trading, there will be a couple of releases to move things along but nothing that should be too impactful for broader market sentiment. The pound will be a focus point with wages data coming up though.

0600 GMT – UK September payrolls change
0600 GMT – UK August average weekly earnings
0900 GMT – Germany October ZEW survey current conditions, outlook

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.



Source link

Recent News
Related News
About Cookies
When you visit our website, it may store information through your browser from specific services, usually in form of cookies to impact your experience on our website and the services we offer.