Forex
Home›Forex›Major Pairs›Dollar holds steady as oil stays elevated and European…
Dollar holds steady as oil stays elevated and European stocks slip
EUR/USD was flat near 1.1465, while US 10-year yields edged back toward 4.57% as Middle East tensions kept inflation risks in focus.
Forexlive reports that the dollar was mostly steady in the European session while equities drifted lower and markets stayed cautious heading toward the next US data releases. In morning trading, the DAX and CAC 40 were both down 0.8%, and US futures pointed to a softer open, with S&P 500 futures down 0.2% and Nasdaq futures down 0.8%.
The move came after a couple of softer inflation prints in the US, but sentiment remained unsettled. While bond yields were underpinned earlier, the report said US 10-year yields were nudging back up to 4.57%, and 30-year yields remained near the high end at 5.11%, limiting scope for further dollar weakness.
Oil prices were described as elevated but slightly lower on the day, with WTI crude down 0.3% to $79.35, still close to $80 for the week. EUR/USD was flat at 1.1465, USD/JPY was also flat at 162.15, and GBP/USD fell 0.3% to 1.3500 after pulling back from over 1% gains earlier.
In commodities, gold was down 0.8% to $4,029 as the recent gradual decline continued. Forexlive said attention is now shifting to upcoming US retail sales data, with US-Iran developments and their potential impact on the inflation outlook remaining the key focus for the rest of the week.
Latest closeGold $4,067.10 ▲0.1%|WTI crude $80.18 ▲1.1%|S&P 500 7,572.40 ▲0.4%