Markets:
WTI crude oil up $0.47 to $73.97US 10-year yields down 2 bps to 4.37%S&P 500 down 0.2%Gold down $4 to $3366EUR leads, AUD lags.There was some back-and-forth in most markets today as traders weighed the risks of holding positions over the weekend. In general, there was a move towards safe haven assets, including a nice rebound in gold prices early in US trade. The dollar was generally stronger despite some surprisingly-dovish comments from Waller.
His words were quickly dismissed by the market and that was underscored by other Fed officials who sounded like they weren't going to consider moving on rates in July.
The euro outperformed on the day and it climbed all the way to unchanged on the week before giving back some late amid broad USD strength. The dollar was even strong against the yen, where it rose to the highest since Tuesday, and fractionally below the highs of the week.
Commodity currencies were soft, particularly after an early strong open in stocks was sold fairly aggressively. AUD, NZD and CAD all finished near the lows of the day.
The week ahead is a light one in terms of economic data, with only the US PCE report as a major highlight. That will put the focus on the trade war, the Iran war and the Federal Reserve, which has emerged from its blackout.
Have a great weekend.
This article was written by Adam Button at www.forexlive.com. Read More Details
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