Forexlive Americas FX news wrap: EURUSD advances on Catalan relief
Forex news for NY trading on October 10, 2017.
- US major indices close higher. Dow closes at record high.
- Forex technical analysis: Gold extends to the upside for the 3rd day in a row...
- Tide slowly turns for the US dollar -- three themes
- Sears Canada to liquidate, putting 14,000 employees out of work -- what it means
- Crude oil futures settle sharply higher
- The case for a BOE November hike strengthens further - BTMU
- White House: President has reached a decision on Iran strategy
- BOC's Wilkins: The main vulnerability in Canada is household debt
- Spanish government says Catalonia declared deferred independence - report
- Euro climbs after Puigdemont calls for dialogue, doesn't declare independence
- Puigdemont speech: Catalonia is now a European issue
- Rising inflation certainly wasn't a theme at the Wal-Mart investor day
- Pro-independence party rejects text of Puigdemont speech - report
- Trump says he will adjust tax plan over next few weeks to make it stronger
- NY Fed survey: Expected household income growth falls to lowest since Feb 2014
- When people believe enough to do this, you know it's going higher
- Oct IBD/TIPP US economic optimism falls to 50.3 vs 53.4 prior
- US stocks hit record but tax jitters could weigh as Trump-Corker feud flares
- IMF upgrades global growth forecast in 2017 and 2018
- Canada August building permits -5.5% vs -1.0% expected
- Canada Sept housing starts 217.1 vs 212.0K expected
- The strongest (EUR) and weakest (USD) as NA traders enter for the day
In other markets today, the end of day prices show:
- Spot told up $4.70 or +0.36% to $1288.54
- WTI Crude oil is trading up $1.36 or 2.76% to $50.94
- US stocks closed higher with Dow closing at a record high up 0.31%. The S&P is ending up 0.23% and the Nasdaq is closing up 0.11%
- US interest rates are ending lower, but off the lows. 2 year yield 1.5042%, Unchanged. 5 year 1.9462%, down 1 bp. 10 year 2.3463%, down -1.2 bp. 30 year 2.8848%, down -0.9 bp
Other than that, the IMF did upgrade global growth forecasts for 2017 and 2018.
- Sees 3.6% global growth in 2017 vs 3.5% in July estimates
- Sees 3.7% growth in 2018 vs 3.6% in July estimates.
The USDJPY fell for most of the day and in the NY session broke below floor support between 112.208-316. That area was home to a number of swing levels (see post here). However, yields in the US which were down about 3-4 basis points, started to rebound and with the rebound, the USDJPY started to move back higher. The pair is closing back above the 112.208-316 area.