Forex news for New York trading on Oct 31, 2016
Markets:
– WTI crude down $2.03 to $46.67
– Gold up $3 to $1278
– US 10-year yields down 2 bps to 1.83%
– S&P 500 float at 2126
Month end is never a time to tie fundamental news to market moves but it certainly looked like the market appreciated Mark Carney’s decision to stick around the Bank of England through the Article 50 turmoil. My take is that month-end demand was the main driver of the 60 pip rally in cable today but the Carney headlines were at least some small part of the climb to 1.2242 from 1.2150 in early New York trade.
