• Gold down $16 to $1848
  • WTI crude oil down 78-cents to $90.93
  • US 10-year yields down 0.2 bps to 4.57%
  • S&P 500 down 12 points to 4288
  • AUD leads, CAD lags

The quarter ended with some drama as the US dollar shot higher, recouping losses from European and Asian trading and in some cases making new highs. USD/CAD was particularly strong as oil prices reversed lower to finish the week flat.

Once again, Treasury yields turned higher after an early slide. That took down equity markets, which finished largely flat after a strong open.

The reasons for the moves were more to do with quarter-end flows than fundamentals as the inflation numbers in the PCE report were slightly soft and Williams tilted dovish.

Gold was battered once again in a fall to the lowest since mid-March.

The US dollar had been much softer going into North American trade but it gained strongly and broadly to finish largely unchanged on the day. That wraps up trading for the week, month and quarter. I'll have the October seasonals up on the weekend so check in.

Have a great weekend.

FX news wrap Sept 29