ForexLive Americas FX news wrap: China deal talk boosts risk trades

Author: Adam Button | Category: News

Forex news for Americas trading on September 10, 2019:

Markets:
  • Gold down $14 to $1485
  • WTI crude flat at $57.89
  • S&P 500 up 1 point to 2979
  • US 10-year yields up 9.6 bps to 1.74%
  • CAD leads, JPY lags
It's somewhat remarkable to see NZD, AUD and CHF all trading precisely unchanged on the day against the US dollar. Stocks were also flat for the second day. But that doesn't show how lively the day was.

The China story helped lift risk trades as it slowly did the rounds while the Bolton firing hurt oil prices and the halted a drop in USD/CAD.

Gold was nearly unchanged as North America arrived but it bled lower late to finish at the worst levels of the day.

The story that's worth watching most-closely is in bonds with Treasury yields making a fairly dramatic uniform 10 bps move across the curve. The 10-year is now more than 30 bps off the lows from last week in a sign of a bit of a rethink on the path of central banks and the global economy.

That story is continuing to give USD/JPY a lift. The pair stalled out ahead of 107.50 three separate times today but eventually found its way through to finish slightly above that and at a session high.

The euro remains locked down around 1.1042. There was a fresh 'sources' report about the ECB refraining from QE and saving it for later but that's not particularly new.

Forex news for Americas trading on September 10, 2019:
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