A bit of GBP strength, a bit of NZD weakness There has been some volatility today but the FX market is mostly where it started the day. The pound is at the top of the leaderboard as it rebounds from yesterday’s CPI-driven plunge. The New Zealand dollar is the laggard.
11 chapters now reportedly settled Report from Bloomberg. Leaders are meeting today in Washington and hope to have a deal done in the first week of May, at the latest.
Busy day lurches toward poor close The Australian dollar tried to find a base in the past two weeks but today’s rally followed by a quick decline raises new questions. The pair is trading at a nine-day low after briefly touching a one-month high in Asian trade.
What happened in EUR/CHF Thursday price action was rather subdued, with FX markets holding to tight ranges. US data was mixed with the Philly Fed a beat, while initial jobless claims missed, though this didn’t seem to make much of a difference.
S&P 500 down 22 points The stock market doesn’t want 3% Treasury yields. The Feb high was 2.95% and after two days of climbing, we’re now at 2.92%. It took awhile but the stock market has woken up to it and is now in a bit of a retreat.
A light one, but a Fed speaker and Japanese inflation data will be a focus. 2245 – Federal Reserve Mester to speak – Loretta Mester is head of the Cleveland Fed. Will be referencing her outlook on the economy and policy, Q&A to follow
The march higher in Treasury yields finally spills into FX The story in markets today is bonds. US 10-year yields are now up 5 bps to 2.92% and the curve has steepened.
Metals have been on fire since the latest Russian sanctions Nothing is hotter than nickel at the moment. The industrial metal is up 15% since the start of the month and 7% today.
Deputy Attorney General Rosenstein Trump said to tell associates he does not need to remove Mueller. So who is the target? The S&P has ticked higher . It was trading around the 2687 and is currently trading at 2695. The index is still down -14.66 points.
EUR/CHF has completed the round trip Bids for EUR/CHF into the London fix pushed the pair to 1.2000 for the first time since the SNB abandoned support for the pair in early 2015.