December 9, 2022

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Forex | Stocks | Commodities | Crypto

ForexLive European FX news wrap: EUR/USD parity then slight bounce

1 min read



JPY leads, GBP lags on the dayEuropean equities lower; S&P 500 futures down 0.4%US 10-year yields down 6.7 bps to 2.924%Gold up 0.1% to $1,735.32WTI crude down 4.7% to $99.20Bitcoin down 3.1% to $19,774

The key story on the session was EUR/USD hitting parity for the first time in two decades, with the pair briefly hitting level and then bouncing back slightly to around 1.0069 and then coming back down now to 1.0030-40 levels.

The move comes as the dollar continues to keep steady across the board, with GBP/USD also dragged to fresh lows below 1.1900. USD/JPY was lower throughout though, as a retreat in bond yields weighed on yen pairs. That saw price fall from 137.20 to 136.70 on the session as we see US 2s-10s invert by the most since 2007.

Equities were rather sluggish but there is a slight improvement in the mood with Nasdaq futures paring earlier losses, though overall sentiment remains on the softer side. European indices are in the red mostly as recession fears continue to emanate, with the German ZEW survey today highlighting a rather dire outlook.

Elsewhere, oil is weighed down once again with WTI crude falling past $100 as the push and pull continues. And Bitcoin is marked lower back below the $20,000 level as the downside pressure stays the course.

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