Wall Street was able to advance overnight with a higher than expected initial jobless claims print pushing USD lower and helping lift risk expectations as the focus gathers on next week’s FOMC meeting.
Currency markets had been under the sway of King Dollar for sometime so a relief rally in Euro sent it back through the 1.07 handle while the Australian dollar also pushed well into the 67 cent level as it gathers pace following the recent RBA rate hike.
Meanwhile US Treasury yields retraced sharply on the jobless claims number with the 10 year up down nearly 10 pips to almost through the 3.7% level while oil prices pulled back slightly, with Brent crude again finishing just below the $75USD per barrel level. Gold was able to bounce back alongside the other undollars to finish back above the $1960USD per ounce level.
The full text of this article is available to MacroBusiness subscribers