ForexLive Americas FX news wrap: Durable goods and other data boost USD

Author: Adam Button | Category: News

Forex news for New York trade on November 27, 2019:

Markets:
  • Gold down $7 to $1454
  • WTI crude down 30-cents to $58.11
  • US 10-year yields up 2.4 bps to 1.77%
  • S&P 500 up 13 points to record 3153
  • GBP leads, JPY lags
A strong round of US data kicked off a rally in the US dollar against most currencies. One exception was GBP on expectations of a strong poll for Conservatives due shortly.

USD/JPY was on the march higher throughout New York trading in a steady rally to 109.60 from 109.10. The big level to break was the November high of 109.47 and that means we're at the best levels since May with minimal resistance above.

Cable rallied about 80 pips since the start of European trading. The sharp move late in the day came after a journalist offered some hints at the YouGov poll due at 2200 GMT. The latest rumor is that the poll will show Labour winning 211 seats compared to 242 now. Last at 1.2910.

EUR/USD took at run at the November low of 1.0989 but it held and we've bounced to 1.1002. That will remain a big level to watch in holiday-thinned trading for the remainder of the week.

USD/CAD rose to 1.3283 from 1.3265 on falling oil prices after the US inventory report. The pair was also caught in the USD rally.

NZD and AUD are poised to close near the lows of the day but the ranges have been narrow.

Forex news for New York trade on November 27, 2019:
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