ForexLive Americas FX news wrap: Euro chops after ECB meeting

Author: Adam Button | Category: News

Forex news for North American trade on September 9, 2021:

  • Gold up $5 to $1795
  • US 10-year yields down 3.8 bps to 1.30%
  • WTI crude oil down $1.20 to $68.08
  • S&P 500 down 19 points to 4494
  • CHF leads, AUD lags
The move in the euro lower came after Lagarde characterized the taper as a 're-calibration' and emphasized that they have 'other tools' to keep financial conditions easy (namely the APP) in March when the program runs off.

Later, the euro rebounded as the dollar slumped, in part due to the very strong bond auction. Later in the day though, some risk aversion kicked in and the dollar got a second wind.

The Canadian dollar strengthened after Macklem didn't offer any real hint that delaying the planned late-October taper was off the board. He certainly kept it as an option, pointing to economic data but said the baseline was still an H2 acceleration. USD/CAD dropped as low as 1.2622 but was jarred around but several whipsaws in oil prices.

Cable was perky once again and finishes the day neck-and-neck with the yen as the top performer. It's been a lively trade this week, dropping Tuesday, reversing intraday yesterday and getting back to square one today.

Forex news for North American trade on September 9, 2021:
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