ForexLive Americas FX news wrap: US dollar grinds lower
Forex news for North American trade on March 12, 2018:
- Larry Kudlow is the leading contender to get Gary Cohn's job - report
- Trudeau: We're moving towards a better deal for everyone on NAFTA
- ECB's Coeure: Growth is 'very positive'
- US Feb budget deficit $215.2B vs $216B expected
- US 10-year note auction 2.889% vs 2.890% WI bid
- US sells 3-year notes at 2.436% vs 2.440% WI bid
- EU's Moscovici says we must be ready for trade counter measures
- US Feb employment trends 107.7 vs 106.5 prior
- Goldman Sachs says David Solomon President, says he will be next CEO
- Germany's Merkel says global trade developments require a response
- CHF leads, CAD lags
- Gold flat at $1323
- WTI crude oil down 73-cents to $61.32
- US 10-year yields down 2.5 bps to 2.87%
- S&P 500 flat at 2787
The US dollar was generally weak as follow-through from the selling on weak wage growth data on Friday continued.
The economic calendar was very light to start the week and North American clocks moved ahead to rob market participants of an hour of sleep. That left for a lackluster trading environment.
The pound was lifted by Brexit optimism and the yen by Japanese political scandal. The euro held a steady bid throughout NY trade and finished near the best levels of the day.
Looking at the daily charts, cable is intriguing as it nears the best levels of March in the second day of gains. The Australian dollar is also at a two week high.