Forex news for December 9, 2014:
- October 2014 US JOLTS report 4.834m vs 4.790m exp
- November 2014 NFIB business optimism index 98.1 vs 96.5 exp
- US IBD/TIPP economic optimism 48.4 vs 47.0 exp
- ECB’s Makuch says decision on QE depends on effect of current stimulus
- EU’s Moscovici says markets should feel more secure about Greece
- India may tweak gold import rules further – Reuters
- US Oct wholesale trade sales +0.2% vs +0.1% exp
- Praet: ECB interventions in sovereign bond market would entail stronger dovish signal
- Praet: It’s likely we will get negative inflation numbers
- Greece likely headed toward early Feb vote
- Fonterra cuts New Zealand milk price forecast to $4.70 from $5.30
- Gundlach: If oil gets to $40, the 10-year note could get to 1.00%
- S&P 500 finishes down 0.5 points to 2059 after falling as low as 2034
- Gold up $27 to $1231
- US 10-year yields down 4.5 bps to 2.21%
- WTI crude up $0.31 to $63.38
- JPY leads, USD and AUD lag
It was a wild day in the market with USD/JPY smashed down to 117.95 and then ripping back to 119.69. It was a similar, albeit less dramatic, story in the rest of the FX market with the US dollar falling dramatically in the first few hours of US trading then making a huge comeback later in the day.
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