ForexLive European FX news wrap: Groundhog Day ahead of the weekend?

Forex news from the European trading session – 26 June 2020



  • JPY leads, GBP lags on the day
  • European equities higher; E-minis flat
  • US 10-year yields down 1.5 bps to 0.67%
  • Gold flat at $1,764.01
  • WTI up 0.4% to $38.90
  • Bitcoin down 0.9% to $9,191

It feels like Groundhog Day in European trading today as markets continue to sit more choppy with little headlines of note to shake things up.

There is the inevitable feeling that we will have to deal with pessimistic coronavirus headlines from the US once again, so investors continue to stay on edge for now.

Stocks edged lower in the early stages of the session before recovering higher as we start to look towards North American trading. European equities are holding solid gains just over 1% while US futures pared earlier losses to flat levels currently.

In the currencies space, there wasn’t much to really talk about as narrow ranges continue to prevail for the most part with little direction of note.

EUR/USD sits close to flat levels still around 1.1220, with AUD/USD likewise at around 0.6880 levels. The pound is keeping slightly lower under 1.2400 but price action isn’t exactly running away as the decline remains rather modest for now.

So, it’s all choppy once again in European trading as all eyes turn towards Wall Street and how the risk mood will dictate trading sentiment ahead of the weekend.