• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

Forexlive Americas FX news wrap: Canadian CPI falls to 40-month low

Started by forex4you, Aug 21, 2024, 06:06 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

forex4you

Forexlive Americas FX news wrap: Canadian CPI falls to 40-month low

Markets:

  • Gold up $10 to $2513
  • US 10-year yields down 5.3 bps to 3.81%
  • WTI crude oil down 55-cents to $74.04
  • S&P 500 down 0.2%
  • JPY leads, USD lags

It was another day of quiet news flow and big market moves. The dollar continues to deteriorate, leading to the highest levels in the euro this year.

The dollar selling was broad and consistent as Treasury yields fell again. The market is pricing in a drop in Fed funds and inflation in an environment with improving global growth and a solid US economy. There is also the growing likelihood of a deadlocked US Congress leading to less US fiscal stimulus and growth.

That thinking has contributed to a sagging US dollar and exit of crowded longs. The moves have even extended to USD/JPY selling despite an 8-day winning streak in stocks coming into the day.

One area that plays into the disinflation angle is oil, which was down for the fifth time in the past six days. Meanwhile, gold rallied to a fresh record high at $2531 before pulling back by $15.



                This article was written by Adam Button at www.forexlive.com.

Source: Forexlive Americas FX news wrap: Canadian CPI falls to 40-month low

forexlive.com
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex.

forex4you.com   share4you.com   betiforex.com Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders forexbinaryoption.ae aroundworld24.com  Affiliate programs  Forex4you Affiliate programs   



forex4you.com