ForexLive Americas FX news wrap: Oil falls on US-Iran chatter

Author: Adam Button | Category: News

Forex news for Americas trading on September 11, 2019:


  • Gold up $10 to $1496
  • WTI crude down $1.37 to $56.02
  • S&P 500 up 21 points to 3001
  • US 10-year yields up 1 bps to 1.74%
  • AUD leads, CAD lags
In European trading the story was a dip in the euro on lower growth forecasts but the bottom came shortly after US trading ramped up at 1.0985. From there it made a decent recovery to 1.1012 but trading was understandably slow ahead of the ECB tomorrow.

Oil stayed in the spotlight on the Trump-Bolton drama. It fell on reports that the rift was about Iran and easing sanctions in order to restart talks. The oil inventory report was also a factor. Despite the headline draw, the market focused on a build in distillate inventories. USD/CAD was caught in the move and rose to 1.3214 at the highs before falling back to the figure.

Cable retraced a small portion of the recent gains today in a sag to 1.2313. Headlines were not a factor.

The bond market was flat today in the run-up to the ECB but USD/JPY continued to tick higher on better risk sentiment. US stocks opened flat but steadily gained steam to finish at the highs of the day. USD/JPY was up 30 pips to 107.83.
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