ForexLive European FX information wrap: Firmer greenback; shares up awaiting Nvidia earnings

Headlines:

• US futures search for a bounce with eyes on Nvidia earnings
• EUR/USD brushes towards one other take a look at of 1.zero500 once more
• The technical strains within the sand have shifted in gold
• Gold Technical Evaluation – The US inventory market selloff weighs on gold
• Germany March GfK client confidence -24.7 vs -21.four anticipated
• France February client confidence 93 vs 93 anticipated
• US MBA mortgage functions w.e. 21 February -1.2% vs -6.6% prior
• Russia says extra talks are being lined up with the US
• ICYMI – White Home clarified that tariffs on Mexico & Canada subsequent week nonetheless not determined

Markets:

• USD leads, NZD lags on the day
• European equities larger; S&P 500 futures up zero.5%
• US 10-year yields up zero.eight bps to four.305%
• Gold down zero.1% to $2,913.03
• WTI crude down zero.1% to $68.86
• Bitcoin down zero.four% to $88,345

There wasn’t any main headlines in European morning commerce, as markets await the hustle and bustle in North America buying and selling once more.

The greenback is holding barely firmer throughout the board, making up for some misplaced floor after the softer US client confidence knowledge yesterday. EUR/USD specifically is nudging again just below 1.zero500, nonetheless struggling to clinch a breakout above the determine stage.

In the meantime, USD/JPY did dip decrease in Asia buying and selling however is holding again at 149.51 at the moment as help from the January low of 148.63 remains to be holding in the interim.

Month-end flows are additionally a consideration, with the aussie and kiwi on the weaker aspect towards the greenback immediately. In case you missed it: Month-end flows to favour the greenback – Deutsche

And that comes regardless of a rebound in danger sentiment as equities are nudging larger. European indices are holding stable beneficial properties above 1% whereas S&P 500 futures are up zero.5% with tech shares main the way in which.

Nvidia earnings is the massive one to look at within the day forward however that can solely come after the market shut.

Elsewhere, gold is little modified however nonetheless holding simply above $2,900. Nevertheless, the technical strains seem to have shifted in order that’s one thing to pay attention to in case the promoting picks up within the days forward.

This text was written by Justin Low at www.ubaidahsan.com.



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