ForexLive Americas FX news wrap: US stimulus stumbles but markets shrug

Author: Adam Button | Category: News

Forex news for North American trade on October 1, 2020

Markets:
  • Gold up $19 to $1904
  • S&P 500 up 18 points to 3380
  • US 10-year yields down 0.6 bps to 0.677%
  • WTI crude oil down $1.54 to $38.64
  • NZD leads, GBP lags
The FX market one again wasn't swayed by the US stimulus debate in the same way as equities. There was some hope coming into the day for a US deal but that was essentially dashed today. That sent stocks back to unchanged from a decent day but the FX market mostly shrugged.

The deal that continues to captivate GBP trading is Brexit and some positive signals were dashed on that front by an unnamed EU official saying there was no sign of a landing zone on two key issues. That was the third act in what was a back-and-forth day for GBP.

USD/JPY continues to be a tough read as flows around quarter end leave a mark. An attempt above 105.70 was beaten back down to 105.50 but not much was happening.

It was a similar story in the euro as it consolidated around 1.1740.

The commodity currencies were solid but the loonie was particularly strong despite a 4% drop in oil.
Forex news for North American trade on October 1, 2020
 
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