Forex Trading

FX lightly changed ahead of European trading

There isn’t much appetite to start the week so far and understandably so. All the attention is on central banks this week and we’ll only see more notable moves when the time comes. For now, dollar pairs are lightly changed as narrow ranges prevail.

USD/JPY remains underpinned above 149.00 ahead of the BOJ tomorrow, with 10-year Treasury yields sitting at 4.30%. Meanwhile, EUR/USD is caught in a bind just below the 1.0900 mark within a 11 pips range. The same can be said for most other dollar pairs as well for the time being. Talk about a snoozer, eh?

In other markets, equities are cautiously optimistic with S&P 500 futures now up 0.25%. Asian stocks are also in a fairly positive mood with the Nikkei itself set to rally by over 2%. In the commodities space, gold is under pressure as the recent rally looks to enter into a corrective phase. The precious metal is down 0.4% to $2,147 to its lowest since 7 March.

Elsewhere, Bitcoin is consolidating a modest rebound over the weekend at around $68,000 now. The low during the weekend saw a test just under $65,000 as the volatile swings continue to play out.

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