Markets:
Gold up $1 to $2911US 10-year yields up 2.5 bps to 4.31%WTI crude oil up $0.71S&P 500 up 0.5%EUR leads, CAD lagsIt was a lively week but non-farm payrolls didn't add to the drama. The headline was close to estimates and the market moves afterwards were modest. A closer look at the report showed some weakness in the household report but the market was worried about a bigger deterioration and there was something of a relief trade.
That wasn't the case in the tariff war though as Trump threatened more against Canada as soon as this weekend. USD/CAD hit a session high of 1.4426 on that and the loonie underperformed by a solid margin.
There was continued equity market selling in the US morning but that bottomed at noon and was followed a nice relief rally late to stem what was the worst week since September. USD/JPY followed that trade as it made a double bottom just below 147.00 and jumped a full cent in the final 4 hours of trading. That was helped by steady selling in Treasuries.
The comments from Powell didn't hit on anything new but came along with the equity market rally turn so some might have sensed less hawkishness. That's tough to square with the rally in USD/JPY though.
Tariffs and politics were the overwhelming force in markets this week and that's not going to go away as we count down to steel/aluminum tariffs next week and reciprocal tariffs on April 2.
In the meantime, it's the weekend and time to rest up for another marathon next week. Thanks for reading.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about forexlive americas fx news wrap solid us jobs headline powell says no hurry on rates 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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