The GBP was the strongest. The JPY was the weakest. The trading week is coming to an end, and that means it is time to crown the strongest and weakest of the major currencies.
San Francisco Fed promotes from within Mary Daly will be the next President of the San Francisco Fed, taking over from John Williams who will lead up the New York Fed.
Up from $67.75 last week The price of crude oil is settling the day at $68.99. That is up $0.40 on the day or 0.58%. The contract is also up on the week. Last Friday, the contract settled at $67.75.
Pair stalled at the topside trend line earlier in the day The GBPUSD tested a topside trend line earlier in the day and stalled against that trend line not once but twice () . That helped to put a lid on the pair. The price has been pushing lower since then.
Talk of higher neutral rates are pushing up Treasury yields I was on BNNBloomberg yesterday talking about global currencies. If you skip ahead to 2:50, I talk about neutral rates and how the debate has changed this week, and what it means for the US dollar.
Forex news for North American trade on September 14, 2018: Markets: – Gold down $7 to $1194 – WTI crude up 35-cents to $68.93 – US 10-year yields up 2.4 bps to 2.99% It was a full day of headlines on Friday with the main one a report that Trump has told his cabinet yesterday…
ECB sources from Reuters Draghi said risks were balanced, so there must have been some people on the other side. Draghi was surprisingly upbeat yesterday but it’s clear that there’s some worries, especially with a few weak data points.
Nasdaq leads the gains for the week The major US indices are ending the day with modest gains. For the week, the major indices are ending the week with gains. The Nasdaq led the major indices in the US with at 1.36%. The Dow was the laggard but still rose 0.92%.
Technicals also contributing to selling after move higher this week. , the EURJPY tested a key technical target at the 200 day MA and 50% retracement.
Commitment of traders report for the week ending Sept 11, 2018. – EUR long 11K vs 8K long last week. Longs increased by 3K in – GBP short 61K vs 70K short last week. Shorts trimmed 9K