Forex news for New York trade on October 23, 2017
- BOE's Cunliffe says timing of BOE hike an open question
- May: EU summit made important progress on post-Brexit ties
- ECB's Nouy: There is not much time left for UK banks to secure EU-access post Brexit
- Trump says he's 'very, very close' on his Fed decision
- HSBC trader Mark Johnson convicted on fraud charges for front-running
- White House says Trump will press China to cease predatory trade practices
- Eurozone Consumer confidence for October -1.0 vs -1.1 est.
- Saudi Prince Alwaleed: I don't believe in bitcoin. It will implode.
- Chicago Fed national activity index +0.17 vs -0.13 expected
- Canada August wholesale sales +0.5% vs +0.5% expected
Markets:
- S&P 500 down 10 points to 2565
- Gold up $2 to $1282
- US 10-year yields down 1.4 bps to 2.37%
- WTI crude oil up 6 cents to $51.90
- JPY leads, EUR lags
If you were hoping to ease into a busy week, Monday was the day for you. The ranges were narrower than the recent parameters with most pairs trading inside of 50 pips.
USD/JPY was the focus after the gap higher on the Japanese election but after touching 114 in Asia, it flattened out around 113.70. It looked like it would be a quiet finish but some late selling in stocks and disappointment that the pair couldn't do better pushed it into the gap and quickly down to 113.35.
EUR?USD finished flat in US trading at 1.1750 and down 40 pips on the day. It dipped to a daily low of 1.1725 but quickly rebounded.
Cable shrugged off the comments from Cunliffe and May as the pair slowly climbed to 1.3200 from 1.3175.
USD/CAD was able to crack 1.2650 but not the Aug 31 high or the 100-day moving average. With the BOC just two days away, the bulls and the bears are in a delicate spot.
