Forex news for US trading on September 9, 2015:

  • Bank of Canada holds rates at 0.50%
  • US JOLTS Job Openings 5.753M vs 5.3M estimate
  • NIESR August UK GDP estimate +0.5% vs +0.7% prior
  • July 2015 Canadian building permits -0.6% vs -5.0% exp m/m
  • August 2015 Canadian housing starts 216.9k vs 190.5k exp
  • Larry Summers: A Fed hike is an unnecessary risk
  • Praet: QE is largely producing desired effects
  • IG clients take their cases to the UK financial ombudsman after SNB day
  • EIA lowers 2016 US demand growth forecast
  • US sells 10-year notes at 2.235% vs 2.245% WI
  • Deutsche Bank gives up September Fed hike call
  • Bank of Japan may cut outlook on exports - Nikkei
  • Hilsenrath: Fed isn't near an agreement on Sept liftoff
  • S&P 500 down 27 points to 1942 after rising as high as 1988
  • Gold down $14 to $1107
  • WTI crude down $1.65 to $44.29
  • US 10-year yields up 1 bps to 2.19%
  • NZD leads, JPY lags

It was all sunshine and roses as US traders arrived to their desks but the market began to cloud over on the JOLTS data and then a trickle of rain turned into a downpour of risk aversion.

USD/JPY told the story as it climbed steadily in Asia and Europe then finally took out 121 and squeezed to 121.20 as US stocks opened. Sentiment deteriorated from there and the pair traced out a minor double top then began a gradual slide down to 120.41 near day's end.

EUR/USD once again underscored its role as a funding currency. It bottomed at 1.1135 as stocks and Treasury yields hit session highs and the slowly reversed the entirety of the daily decline to finish flat at 1.1206.

Cable was out of the spotlight after. After two days of big gains it tried the upside but couldn't get any momentum and finished a quarter-cent lower. On the downside, a couple trips to 1.5350 found good bids.

AUD/USD slipped lower to 0.6380 after touching 0.6420 on the deterioration in stocks.

USD/CAD tumbled a full cent to 1.3150 on the BOC decision but the low came only 30 minutes after BOC. Dip buyers began to step in and then they had a reason to buy oil began a long decline.