Forex news for North American trading on July 31, 2020: Markets: Gold up $16 to $1972 WTI crude oil up 44-cents to $40.35 US 10-year yields down 1 bps to 0.5347% CAD leads, NZD lags The big story was the move in USD/JPY. It came after some serious jawboning and threats from top Japanese officials
Dow, S&P, NASDAQ close higher for the 4th consecutive month the month of July is over and all the major indices closed higher for the 4th consecutive month. The S&P index had its second-best July performance since 2010. Apple, Amazon, Facebook all of the way after their earnings release last night. Apple rose up 10.47%.
Dollar/yen breaks 106.00 support on Monday and 105.00 on Wednesday. General dollar weakness infects USD/JPY down 2.5% in six sessions to Friday’s low. US statistics, Covid, stimulus paralysis in Washington played a part in drop. Ministry of Finance comments, profit taking, better US statistics, Treasury rates and month-end positioning prompted sharp dollar recovery on Friday.
Closes lower for the first time since July 16 All good streaks come to an end and the GBPUSD’s 10 day streak of higher closes came to an end today. The pair last close lower back on July 16. On July 17 the low price reached 1.2511, but closed higher on the day. This week the low was reached
Bold move by the rating agency The rating was affirmed at AAA but lowered to negative from stable. That’s how you get yourself a lawsuit. Cites ongoing deterioration in public finances Sees general debt to GDP above 130% by 2021 Expects deficit to narrow to 11% of GDP in 2021 Expects US economy to contract
After a volatile week, the S&P 500 closes 1.73% higher and 0.77% in the black on Friday. There is a key support/resistance level at 3,159.50 that the price closed above. S&P 500 line chart It has been an interesting week for equities as some traders and investors remain unhappy that the US administration cannot agree on
Weekly FX speculative positioning data from the CFTC EUR long 157K vs 125K long last week. Longs increased by 32K GBP short 25K vs 15K short last week. Shorts increased by 10K JPY long 29K vs 19K long last week. Longs increased by 10K CHF long 8K vs 7K long last week. Longs increase by
Has the Baker Hughes rig count found its bottom? The Baker Hughes weekly rig count data stalled again at 251. In the data shown below, you can see since 15th May the number of rigs online has been diminishing. The rate of change is now much slower and this is the first time the number
There are no good bets on Congress Equity markets are paring losses late. One of the reasons people are pointing to is talk that Microsoft is in talks to buy TikTok’s US operations. I’m not sure I buy that given that shares of MSFT are only up 1% on the reports but it might be
Report from Inside U.S. Trade A report suggests the US could hit Canada later today with aluminum tariffs after the market close. The U.S. could impose new Section 232 restrictions on Canadian aluminum as soon as Friday, sources tellInside U.S. Trade. The timing and targets of the possible restrictions were still being discussed as of