Forexlive Americas FX news wrap: USD ends the day lower but up off lows.
Forex news for NY trading on February 13, 2018
- Stock indices in the US end with gains. Erase earlier losses.
- WSJ reports there is no clear front runner for vice chair of the Fed
- NZ inflation expectations will be released in the new day. What levels to eye in the NZDUSD?
- Canada's Morneau: Canada economy is in a good situation
- EURUSD swings back higher as the market treads water near MA/50% retracement
- US crude oil futures settle at $59.19.
- US Senator McConnell: There is no reason why cannot find solution on immigration policy
- Netanyahu: Today is no different from any day
- Canada on NAFTA: US, Canada and Mexico have made fairly limited progress
- US CPI to help drive the market. Key inflation to be released tomorrow in the US
- Audio recap: Red flag Tuesday
- Trump: Canada treats US unfairly on lumber, timber
- European stocks end the session lower
- USDJPY makes another run at the 2017 low
- US household debt rose in the 4Q. Up 1.5% for the quarter
- US director of national intelligence says decision time coming 'ever closer' on North Korea
- Fed's Powell: We will remain alert to any financial stability risks
- Martin Wolf: It takes no imagination to see bond yields jumping massively
- US December PPI revised slightly higher
- The JPY is the strongest. The CAD is the weakest as NA traders enter for the day
- US Fed's Mester says further rate hikes needed this year and next
- ForexLive European FX news wrap: Good two-way trading in busier session
A snapshot of other markets is showing:
- Spot gold up $6.89 or 0.52% at $1329.72
- WTI crude oil futures are down -$.38 or -0.64% at $58.90
- Bitcoin is trading down $139 at $8680
- S&P rose 6.94 points or 0.26% at 2662.94
- NASDAQ rose 31.547 points or 0.45% at 7013.51
- Dow industrial average rose 39.18 points or 0.16% at 24640.45
- 2-year 2.106%, up 3.0 basis points
- 5-year 2.545%, down -1.3 basis points
- 10 year 2.833%, -2.5 basis points
- 30 year 3.116%, -2.7 basis points
Let's face it, the day was once again void of any economic news. Trump talked about trade, and tariffs. A little surprise were comments from Fed's Powell at his swearing in ceremony as the new Fed chair. He said that the Fed "will remain towards any financial stability risks" and that the Fed is in the process of "gradually normalizing" rates. He also said that the Fed is "making great progress in moving much closer to the statutory objectives" of full employment and the inflation target.
The market is expecting the first major comments from Powell toward the end of the month when he will testify in front of both houses of Congress.
A contributor to the somewhat quiet day, is the anticipation of what is ahead in the new trading day. On the schedule includes:
- German preliminary GDP
- EU Flash GDP
- US CPI
- US retail sales
- US crude oil inventories
Later in the US evening tomorrow, the Australian employer report will be released (7:30 PM ET/0030 GMT). That data - especially the US data - has the potential to push interest rates, stock markets and the forex market around (CLICK HERE). Tonight, New Zealand will release quarterly inflation expectations for the Q1.
The strongest currency today was the JPY. The weakest was the CAD. The Canadian NAFTA negotiator did not paint a positive picture regarding the trade agreement negotiations.