Forex news for New York trading on August 30, 2016:
- US Aug consumer confidence 101.1 vs 97.0 expected
- Case-Shiller June 20-city US house price index -0.07% m/m vs -0.10% exp
- Canadian Q2 current account balance -$19.86 vs -$20.20B
- Canada industrial product price for July +0.2% vs -0.3% est.
- Germany CPI August mm flash 0.0% vs +0.1% exp
- US treasury official says they're disappointed EU acted unilaterally on Apple
- US Fed's Fischer says central banks can't say "one and done" on rate hikes
- Irish fin min: We don't accept that Ireland has acted improperly
- Iraq to support oil output freeze at OPEC meeting - Abadi
- Italy Q2 GDP likely to be revised to positive from flat
- Dallas Fed services sector outlook -5.0 vs -1.3 prior
Markets:
- Gold down $12 to $1311
- WTI crude down 72-cents to $46.26
- S&P 500 down 4 points to 2176
- US 10-year yields up 1 bps to 1.57%
- USD leads, JPY lags
The US dollar continued the post-Jackson Hole momentum for a third day. It was further fuelled by the best consumer confidence data in nearly a year.
USD/JPY started US trading at 102.30 and steadily climbed from the US arrival until the London close, hitting a high of 103.12 then fading back to 102.94. That's the best level since July 28.
Outside of the yen, the moves were smaller. EUR/USD tracked down to a low of 1.1132 from 1.1165 as New York arrived. Cable had risen 30 pips early in Europe but gave it all back by the end of the day and finished at 1.3077.
USD/CAD rallied as well as oil prices continue to give back the recent rally. The pair touched 1.3100 after starting near 1.3040. The high was the best level in three weeks.
AUD/USD also took a hit, falling to 0.7508 from 0.7550. It's testing the 100-day moving average at 0.7498 and the big figure.
