ForexLive Americas FX news wrap: The trade deal dance continues

Author: Adam Button | Category: News

Forex news for New York trade on October 9, 2019:


  • S&P 500 up 26 points to 2919
  • WTI crude flat at $52.64
  • US 10-year yields up 5 bps to 1.58%
  • Gold flat at $1505
  • EUR leads, JPY lags
The market felt a bit better about US-China trade talks on a report that China was open to a limited trade deal where they buy more agriculture in exchange for the US canceling planned tariffs. That doesn't sound like anything new to my ears but it was good enough to spark a rally in yen crosses.

EUR/JPY hit a nine-day high of 118.10 to lead the way. USD/JPY held a steady bid in a raise as high as 107.60 but late in the day headlines hit saying China was lowering its expectations and that undid some of the positive sentiment across the board.

Cable jumped in Europe on an early report about a deal coming together behind closed doors but it fell apart in short order and a rally as high as 1.2291 unwound and the pair hit 106.93 at midday in New York.

The commodity currencies didn't share in the optimism in stocks and bonds. CAD, NZD and AUD all finished near the lows of the day on steady selling in New York trade that undid some modest gains earlier in the day.

Forex news for New York trade on October 9, 2019:

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