Forex news for North American trade on April 30, 2018
- Netanhayu reveals Iran's 'secret nuclear files'
- Trump: 'We will see what happens' on Iran nuclear deal
- April Chicago PMI 57.6 vs 58.0 expected
- March US PCE core +1.9% y/y vs +1.9% expected
- Details of US NAFTA auto proposal released
- Mexico's Automakers Association AMIA says US proposal not acceptable
- Dallas Fed trimmed mean PCE price index 1.5% in March vs 1.7% last month
- The first estimate on Q2 US GDP from the Atlanta Fed is 4.1%
- April Dallas Fed manufacturing index 21.8 vs 23.0 expected
- Macron and Netanyahu discussed enlarging Iran nuclear accord - report
- US March pending home sales +0.4% m/m vs +0.7% expected
- Canada March industrial product price +0.8% vs +0.8% expected
Markets:
- Gold down $8 to $1315
- S&P 500 down 21 points to 2648
- US 10 year yields flat at 2.95%
- WTI crude up $43-cents to $68.52
- On the day, USD leads and NZD lags
- On the month, CAD leads and CHF lags
Month end finished the same way it was for the latter half of the month: With the US dollar in demand. That meant more pain for EUR/USD as it dipped down to 1.2060, hitting a session low just as the month expired. That held above Friday's low in a minor victory.
Cable has been bleeding for 10 days and it fell to 1.3713 in European trade then rebounded to 1.3765 in North America and limped to the finish line there.
The New Zealand dollar is a story that hasn't gotten nearly enough attention in the past two weeks. It's been an absolute swan dive and NZD/USD finished at the lows of the month at 0.7030. Keep an eye on the big figure.
The Canadian dollar got some help from oil and Middle East worries. The Bibi speech gave a lift to oil in the hype beforehand. The gains maxed out as the headlines crossed and WTI hit $69.35 but the meat of Netanhayu's revelation was dated and crude dipped back to $68.50. Along the same lines, USD/CAD rebounded to 1.2840 from 1.2806.
USD/JPY rose to 109.40 in the early going but risk aversion crept in later and the pair fell back to 109.10. That's a modest range in what was a soft month for the yen.
Welcome to May!
