Markets:
Gold up $93 to $3420US 10-year yields up 8 bps to 4.41%WTI crude oil down $1.27 to $63.41S&P 500 down 2.7%EUR leads, USD lags'Sell America' was the theme right from the open of trading as the White House failed to achieve any concrete progress on trade and the market grows impatient. Trump wrote about non-tariff barriers early in the day and that set the tone but was followed up with another attack on Fed Chairma Powell in US hours.
The lows for the dollar came early in Europe and there was something of a bounce in US trade that saw USD rise around 50 pips on some fronts but much of that rebounded faded y late in the day. The overall moves on the day were large and helped along by a fresh rise in long-dated Treasury yields.
At this point there isn't much more to say but a fresh sign of the market losing confidence was that a Trump post about 'good meetings' on trade did almost nothing for risk assets or the dollar. We're at the point where the market needs to see real progress or gravity will weigh on stocks and the dollar.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about forexlive americas fx news wrap us dollar struggles to get off the floor 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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