Forex news for August 31, 2015:
– creep to 40% in Sept
– WTI crude up $3.29, or 7.3%, to $48.53
– Gold up $2.70 to $1136
– US 10-year yields up 4 bps to 2.95%
The big story was the early drop in oil prices followed by a massive turnaround. It’s the third consecutive day of major oil gains. After hitting a session low of $43.63, crude began to drift higher and then shot as high as $49.33. Various headlines were blamed but global growth and an epic squeeze.
