Forex headlines for North American trading on Sept 4, 2017
- South Korea's Kim says he and Trump agree that now is time to pressure North Korea
- Four things we learned from the big shift at the Norwegian sovereign wealth
- Hurricane Irma to gain strength as track continues towards Gulf
Markets:
- Gold up $10 to $1334
- CHF leads, AUD lags
It was Labor Day in Canada and the United States and that kept markets in check, with a few exceptions.
The main one was cable as it sank down 35 pips to 1.2920 just after Europe went home. It's one of those moves in low liquidity that's a tough one to fade and shows the underlying momentum in the trade.
The euro had tried to move higher late in Europe but it ran into offers at 1.1922 for the second time today. The first was late in Asia. Offers there held and EUR/USD slipped down to 1.1896 with the market hesitant to do too much before Draghi.
USD/JPY sank at the weekly open on North Korea fears but the LOD was in the first minutes at 109.23 and then it carved out a range up to 109.93 before finishing in the middle at 109.60.
AUD/USD is a bit heavy as Asia wakes up for the new day. It sits near the lows of the day at 0.7943 but the range has been tight.
