Markets:WTI crude oil up $1.74 to $73.93US 10-year yields up 6 bps to 4.05%Gold up $1 to $2044GBP leads, CAD lagsS&P 500 up 0.2%Looking at the clo
Markets:
- WTI crude oil up $1.74 to $73.93
- US 10-year yields up 6 bps to 4.05%
- Gold up $1 to $2044
- GBP leads, CAD lags
- S&P 500 up 0.2%
Looking at the closing changes in FX, you might be excused for thinking nothing happened today but it was certainly the opposite. The US dollar hit the highs in the moments after non-farm payrolls on a strong headline and lower unemployment but a deeper dive into the data showed it wasn’t quite as strong as it looked. That started a retracement that further extended when ISM services missed.
However the bond sellers weren’t ready to give up and the initial risk-positive move and USD selling on ISM didn’t last. As the day wore on, the mood worsened and the dollar improved.
Ultimately, that left FX and equities right back to where they started the day.
www.forexlive.com
COMMENTS