Forex news for US trading on April 19, 2016:
- Bank of Canada's Poloz: Some of strong Q1 data a result of temporary and catch-up factors
- BOC's Poloz Q&A: We have 'plenty' of excess capacity in economy
- Japan may consider incremental sales tax increase - Nikkei
- Iran blames lack of ships for holding back oil exports
- BOE can cut rates if needed says Carney
- Carney: China poses a bigger to the UK risk than Brexit
- Impacts of Brexit on the economy would be unhelpful says Carney
- Carney: UK Treasury analysis is only valuable for a sense of direction
- BOE will reinforce transformation of the bank says Carney
- RBA's Stevens : We've not yet felt all the effects of monetary stimulus
- New Zealand dairy auction GDT price index 3.8 vs 2.1% prior
- Bank of Italy's Visco lining up the next sale of banking deadwood
- Goldman Sachs records a 60% drop in profits in Q1
Markets:
- Gold up $19 to $1251
- WTI crude up $1.25 to $41.03
- S&P 500 up 6 points to 2100
- US 10-year yields up 1.5 bps to 1.79%
- NZD leads, JPY lags
Broad US dollar weakness and commodity strength were the themes for the second day.
The euro caught a bid as US traders arrived and broke the European high of 1.1344. That was followed by a steady climb to 1.1385 just after the London fix. A second attempt at the high was beaten back and the euro sagged to 1.1360 late.
Cable was even stronger in a climb above 1.4320 and up to 1.4420. Carney was upbeat as the full-court-press against the Brexit vote continues. It was the third consecutive day for cable gains.
USD/JPY peaked at 109.49 just as US traders arrived. It then slumped down to 109.00 in a slow slide before a late bounce to 109.14.
The commodity currencies were the stars of the show. USD/CAD started at 1.2730 and slipped to 1.2622 as oil climbed. That's the lowest since July but it later bounced 40 pips.
AUD/USD also hit a long-term high at 1.2798 but was capped by offers at the big figure and slid down to 1.2800. Steven refrained from any jawboning at his speech in New York.
