Forex news for New York trading on October 21, 2016
Markets:
– S&P 500 flat at 2141
– US 10-year yields down 2 bps to 1.73%
– WTI crude up 27-cents to $50.90
Weak retail sales and low inflation numbers cut the knees out of the Canadian dollar. It was already wobbling after yesterday’s hint about a rate cut and even a recovery in oil prices couldn’t help the loonie off the canvas. USD/CAD immediately jumped to 1.3325 from 1.3233 on the data. That knocked out some big resistance levels in a jump to the best levels since March.
