Forex news from the European trading session - 29 July 2020
Headlines:
- US MBA mortgage applications w.e. 24 July -0.8% vs +4.1% prior
- BOE's Haldane says he saw mixed signals about the economy in regional visit
- UK June mortgage approvals 40.0k vs 35.0k expected
- The rise in coronavirus cases across Japan continues to gather pace
- Switzerland July Credit Suisse investor sentiment 42.4 vs 48.7 prior
- France July consumer confidence 94 vs 99 expected
- BOJ's Amamiya: Lowering rates further is still one of the options if necessary
- Tokyo reportedly finds 250 new coronavirus cases in latest update today
- BOJ's Amamiya: BOJ ready to ease further without hesitation if needed
- ECB's Stournaras: PEPP exit depends on inflation outlook
Markets:
- GBP leads, NZD lags on the day
- European equities mixed; E-minis up 0.1%
- US 10-year yields up 1.3 bps to 0.592%
- Gold down 0.2% to $1,954.04
- WTI up 1.0% to $41.44
- Bitcoin up 0.5% to $11,032
It was a largely quiet session as the market is keeping its eyes on the Fed policy meeting that is to come later in the trading day.
There wasn't much notable headlines to distract from that, as the dollar kept a little weaker and more mixed across the board throughout.
The decline in the greenback is rather modest with only USD/JPY testing waters under 105.00 and cable nearing 1.3000 being the standout pairs for the time being.
Elsewhere, gold and silver are keeping more muted after having been a major theme in markets over the past few sessions. Stocks are also sidelined in anticipation of the Fed.
All eyes are on North American trading today, so let's see if we will get more of a nudge later in the day after a bit of a lull of a session in Europe.
