ForexLive Americas FX news wrap: Fed commits to QE pace until 'substantial further progress'

Author: Adam Button | Category: News

Forex news for New York trade on December 16, 2020:

Markets:

  • EUR leads, CAD lags
  • Gold up $10 to $1864
  • US 10-year yields up 1.5 bps to 0.922%
  • S&P 500 up 8 points to 3702
  • WTI crude oil up 21-cents to $47.81

The lack of any new action from the FOMC led to a kneejerk higher in Treasury yields and the US dollar but it was short-lived. Powell emphasized the ultra-dovish stance of the FOMC and no rush to raise rates and that sparked a complete reversal.

Forex news for New York trade on December 16, 2020:
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