Gold up $13 to $2662US 10-year yields flat at 4.68%WTI crude down 93-cents to $73.32S&P 500 up 0.2%USD leads, GBP lags
The US dollar finished as the top performer once again today. In the bigger picture, the market is getting increasingly anxious about Trump taking office and placing tariffs. With the whole world as a target, the only safe place is the US dollar. The rhetoric isn't going to get any quieter, including after Trump takes office.
Economic data was mixed with the ADP number a negative for employment while jobless claims dropped. The Fed Minutes were largely ignored but Waller offered up comments that were more dovish than expected, highlighting that he believes rate cuts will continue. That runs counter to the global bond market, which is either pricing in higher inflation, higher US deficits or some kind of trade uncertainty.
Reminder that Thursday is something of a holiday for US market's due to Jimmy Carter's funeral and Friday is non-farm payrolls.
This article was written by Adam Button at www.forexlive.com. Read More Details
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