ForexLive European FX news wrap: Commodity currencies lag amid a mixed market mood

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/major-currencies-little-changed-as-dollar-pauses-at-critical-point-20231116/">Major currencies little changed as dollar pauses at critical point</a></li><li><a href="https://www.forexlive.com/news/china-is-ready-to-be-a-partner-and-friend-of-the-us-says-xi-20231116/">China is ready to be a partner and friend of the US, says Xi</a></li><li><a href="https://www.forexlive.com/news/us-senate-votes-to-approve-temporary-funding-to-avert-a-government-shutdown-20231116/">US Senate votes to approve temporary funding to avert a government shutdown</a></li><li><a href="https://www.forexlive.com/centralbank/ecbs-centeno-interest-rates-will-not-desirably-return-to-zero-20231116/">ECB's Centeno: Interest rates will not desirably return to zero</a></li><li><a href="https://www.forexlive.com/centralbank/ecbs-lagarde-says-europes-financial-system-has-avoided-worst-case-scenario-20231116/">ECB's Lagarde says Europe's financial system has avoided worst-case scenario</a></li><li><a href="https://www.forexlive.com/centralbank/boes-greene-i-am-not-thinking-about-rate-cuts-20231116/">BOE's Greene: I am not thinking about rate cuts</a></li><li><a href="https://www.forexlive.com/news/alibaba-shares-down-in-pre-market-as-jack-mas-family-plans-to-sell-down-shares-20231116/">Alibaba shares down in pre-market as Jack Ma's family plans to sell down shares</a></li><li><a href="https://www.forexlive.com/news/investors-still-bearish-on-most-asian-currencies-latest-reuters-poll-shows-20231116/">Investors still bearish on most Asian currencies, latest Reuters poll shows</a></li></ul><p>Markets:</p><ul><li>JPY leads, NZD lags on the day</li><li>European equities mixed; S&amp;P 500 futures down 0.2%</li><li>US 10-year yields down 3.1 bps to 4.505%</li><li>Gold up 0.2% to $1,963.67</li><li>WTI crude down 0.7% to $76.10</li><li>Bitcoin down 1.1% to $37,215</li></ul><p>It was a rather slow session as markets are continuing to trade more sideways once again after the big moves on Tuesday. Major currencies are not showing too much appetite, though commodity currencies are the ones lagging amid a bit of a dent to risk appetite late on in the session.</p><p>The aussie and kiwi were already notable laggards but as oil prices dip a little, the loonie is also trailing as we look towards North America trading later.</p><p>AUD/USD is down 0.4% to 0.6478 as sellers look to push back against a potential technical breakout this week. Meanwhile, NZD/USD is down 0.8% to 0.5975 as the kiwi struggles for any traction whatsoever during the session. That comes despite more muted sentiment in equities earlier on, before US futures now turn slightly lower on the day.</p><p>Elsewhere, the dollar remains steady with USD/JPY holding little changed at 151.30 and GBP/USD down 0.2% to just under 1.2400 currently.</p><p>In the bond market, Treasury yields are slightly lower as the push and pull continues after the Tuesday plunge. 10-year yields are down a little over 3 bps to stick around 4.50% for now.</p><p>It's a mixed one out there as traders and investors are still digesting what to make of the latest moves and a lack of follow through since the Tuesday action.</p>

This article was written by Justin Low at www.forexlive.com.