Gold up $19 to $3358US 10-year yields up 3.6 bps to 4.28%WTI crude oil up $1.95 to $67.40S&P 500 up 0.5%CAD leads, GBP lags
The US dollar firmed in European trading but gave it all back before the close. It started with some selling on a weak ADP employment number that raised worries about Thursday's non-farm payrolls report. The selling continued after we finally got a second US trade deal, this time with Vietnam. Trump wrote about some of the terms but details were supposed to be released by now and we haven't gotten them.
At the same time, the market was also watching for details on the US budget. A series of votes were expected today but they have been delayed so far as the fiscal hawks in the House make a last stand.
The other big intrigue in the market was in the UK gilt market. Yields jumped after the government dropped plans to impose some austerity into the welfare system and that was combined with some drama around Exchequer Reeves and resulted in some fiscal worries and a quick 130 pip drop in cable. It later recouped about half of that but it's a story to keep a close eye on.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about forexlive americas fx news wrap us dollar slides as adp misses gilts drop was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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