Forex news for North American trade on March 19, 2019:
- US January factory orders +0.1% vs +0.3% expected
- EU expects May to ask for an Article 50 extension to June 30
- Kazakhstan President quits
- Conservative MPs lobbying European countries to veto Article 50 extension
- Lighthizer and Mnuchin plan to travel to China next week - report
- EU likely to tell May to decide by mid-April on long-term Brexit delay
- USTR: US officials said to see China walking back trade offers
- Corbyn wants to ensure public vote on May's deal if approved in parliament - spokesman
- May's spokesman: There is determination to find a way to vote on Brexit deal
Markets:
- Gold up $3 to $1307
- WTI crude down 22-cents to $58.87 after hitting four-month high at $59.77
- S&P 500 down 6 points to 2826
- US 10-year yields up 1 bps to 2.61%
- CHF leads, AUD lags
The Canadian dollar was a mover ahead of the budget, which will be out imminently. USD/CAD fell to 1.3250 from 1.3315 but rebounded all the way back by the end of the day. A big part of that was a similar round trip in oil prices, which finished lower after hitting a four-month high.
EUR/USD traded in a tigh range between 1.1340-1.1360. Stops will be building on either side of that.
Cable fell as low as 1.3241 late in London trade but was reluctant to push lower, just as it was in an attempt to move higher earlier in the day. The pair settled in the middle of the range and up slightly at 1.3217.