Forex news for New York trade on June 19, 2019:


  • S&P 500 up 13 points to 2930
  • WTI crude up 49-cents to $54.39
  • US 2-year yields down 11 bps to 1.75%
  • US 10-year yields down 2.5 bps to 2.03%
  • Gold up $6 to $1352
  • GBP leads, USD lags

US dollar selling was the theme early and it continued through an FOMC decision that was expected to be dovish and delivered. The US dollar fell 30-40 pips across the board on the statement but gave some of it back later, despite a sharp drop in front-end yields.

Cable was particularly strong ahead of tomorrow's BOE decision. It has rebounded from a five-month low in a one-way, 150 pip climb from support at 1.2500. It added to the gains on fixing demand and the FOMC before stalling late.

CAD had three things going for it: 1) Higher CPI 2) Tighter US oil inventories 3) Dovish Fed. That combined to send USD/CAD down to 1.3284 and a close on the lows. It was just behind the pound as the top performer.

AUD was much less of a mover as it tried to rally on the Fed but was sucked back down on expectations the RBA will go cut-for-cut with the Fed. NZD followed a similar pattern.

Draghi didn't make any news today but the euro fully recovered from this week's dip on his loosening talk. EUR/USD made the high of the day immediately after the FOMC statement and then faded.

Gold finally managed to close above $1350 as it hit fresh highs late at $1358 in what looks like it could be a technical break to the upside.

Forex news for New York trade on June 19, 2019: