Forex news for North American trading on Sept 6, 2021:


  • Gold down $3 to $1823
  • WTI crude oil down 40 cents to $68.89
  • USD leads, JPY and AUD lag

The one intriguing move in North American trading was a sudden spike in spot silver prices. The 11% move wasn't instant like a fat finger or misprint and screens showed a bid-ask but it increasingly looks like a false move with comex closed due to the US holiday. In any case, that will be one place to watch when the market reopens.

The other is the Australian dollar, which was flat in US trade but soft earlier in the day on speculation that RBA Governor Lowe will delayed the planned taper because of lockdowns and covid. However that's certainly not a unanimous move and the Aussie is set for a move either way.

Turning to USD/CAD, for two closed markets the pair had a bit life as it tracked the ebb and flow in crude. Outages in the Gulf of Mexico remain stubbornly high but the market is largely brushing it aside but that will be something to watch as they drag.

Cable was soft in part due to a weak construction PMI. The pressure stayed on right until the London close as it fell to a session low of 1.3820 even as the dollar slipped elsewhere.

The larger theme on the day was a bit of back-and-fill around the dollar trade as it recovers much of the post-payrolls decline.

Forex news for North American trading on Sept 6, 2021: