ForexLive European FX news wrap: Dollar mixed, oil fades Saudi spike

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/treasury-yields-look-to-resume-the-latest-drop-this-week-20230717/">Treasury yields look to resume the latest drop this week</a></li><li><a href="https://www.forexlive.com/news/saudi-arabia-says-will-extend-voluntary-oil-cuts-until-the-end-of-december-2024-20230717/">Saudi Arabia says will extend voluntary oil cuts until the end of December 2024</a></li><li><a href="https://www.forexlive.com/news/the-fed-and-ecb-may-not-be-the-biggest-central-bank-risks-to-markets-this-month-20230717/">The Fed and ECB may not be the biggest central bank risks to markets this month</a></li><li><a href="https://www.forexlive.com/centralbank/ecbs-vasle-core-inflation-remains-high-resilient-20230717/">ECB's Vasle: Core inflation remains high, resilient</a></li><li><a href="https://www.forexlive.com/news/italy-june-final-cpi-64-vs-64-yy-prelim-20230717/">Italy June final CPI +6.4% vs +6.4% y/y prelim</a></li><li><a href="https://www.forexlive.com/news/snb-total-sight-deposits-we-14-july-chf-4947-bn-vs-chf-4866-bn-prior-20230717/">SNB total sight deposits w.e. 14 July CHF 494.7 bn vs CHF 486.6 bn prior</a></li><li><a href="https://www.forexlive.com/news/jp-morgan-slashes-china-full-year-gdp-growth-forecast-to-50-from-55-previously-20230717/">JP Morgan slashes China full year GDP growth forecast to 5.0% from 5.5% previously</a></li></ul><p>Markets:</p><ul><li>JPY leads, NZD lags on the day</li><li>European equities lower; S&amp;P 500 futures down 0.1%</li><li>US 10-year yields down 3.3 bps to 3.787%</li><li>Gold up 0.1% to $1,957.18</li><li>WTI crude down 1.3% to $74.47</li><li>Bitcoin flat at $30,202</li></ul><p>The dollar is keeping more mixed today after last week's drop, with equities looking more tepid and bond yields holding slightly lower on the day.</p><p>There wasn't any major headlines to impact the greenback or risk sentiment, though we did get one for the oil market. Saudi Arabia said it would extend its voluntary output cuts until the end of next year, prompting a jump in oil prices.</p><p>However, that was quickly faded with WTI crude moving up from $74.15 to $76.00 only to erase all of that during the session.</p><p>Going back to the dollar, it is keeping little changed against the euro and pound. Meanwhile, USD/CHF is slightly lower and keeping just under 0.8600 as the break through the floor holds.</p><p>USD/JPY is lower as well with Treasury yields slightly lower on the day, holding around 138.10-20 levels mostly in European trading.</p><p>The antipodeans are the laggards, with AUD/USD down 0.3% to 0.6815 and NZD/USD down 0.5% to 0.6335 after following the fall in the Chinese yuan, which owes to a more disappointing Q2 GDP report <a href="https://www.forexlive.com/news/china-q2-gdp-08-qq-expected-05-20230717/" target="_blank" rel="follow">here</a>.</p>

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