ForexLive European FX news wrap: FX muted, oil builds on yesterday's turnaround

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/wti-crude-climbs-to-highest-levels-for-the-year-as-oil-continues-to-impress-20230809/">WTI crude climbs to highest levels for the year as oil continues to impress</a></li><li><a href="https://www.forexlive.com/news/equities-continue-to-hold-steady-so-far-on-the-day-20230809/">Equities continue to hold steady so far on the day</a></li><li><a href="https://www.forexlive.com/news/us-mba-mortgage-applications-we-4-august-31-vs-30-prior-20230809/">US MBA mortgage applications w.e. 4 August -3.1% vs -3.0% prior</a></li><li><a href="https://www.forexlive.com/news/white-house-reportedly-to-detail-plans-restricting-some-us-investments-in-china-20230809/">White House reportedly to detail plans restricting some US investments in China</a></li><li><a href="https://www.forexlive.com/news/china-considering-talks-with-japan-at-asean-meeting-after-aso-visit-to-taiwan-report-20230809/">China considering talks with Japan at ASEAN meeting after Aso visit to Taiwan – report</a></li></ul><p>Markets:</p><ul><li>EUR leads, CHF lags on the day</li><li>European equities higher; S&amp;P 500 futures up 0.2%</li><li>US 10-year yields up 1.4 bps to 4.038%</li><li>Gold flat at $1,924.63</li><li>WTI crude up 1.0% to $83.74</li><li>Bitcoin down 0.6% to $29,813</li></ul><p>It was a quiet session as there were no major economic data releases in European trading today. Market flows were relatively light as well, with major currencies not really showing too much appetite.</p><p>The dollar was mildly weaker earlier on but is now trading more mixed and little changed in general, as traders start to turn their focus towards the US CPI report tomorrow.</p><p>EUR/USD stuck around 1.0960-70 levels while USD/JPY held above 143.00 around 143.10-30 for the most part. There weren't any exciting moves on the session involving FX as equities and bonds were also less enthused.</p><p>European stocks are holding higher, catching up to the late dip buying in Wall Street yesterday. Meanwhile, US futures are holding slightly higher but the gains are relatively mild for now and indicative of just a slight breather after the continued selling since August began.</p><p>The standout in terms of performance today is oil, with WTI crude rising to near $84 and up 1% to its highest levels for the year.</p>

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