Forex news for US trading on May 10, 2016
The macro movers for the day? Commodities moved higher with the CRB up 1.83%, Crude oil futures were up 2.9%. Stocks were up. So the commodity currencies rebounded with the exception of the NZD (more about that in a bit). In economic news, the JOLTS Job opening climbed to the 2nd highest level on record. That was not too bad. The Wholesale inventories rose by 0.1% but wholesales sales rose 0.7%. The GDPNow for Q2 increase to 2.2% from 1.7% reported earlier. It is still early for the report but it signals a 2Q bounce back (although we now accept low 2% as pretty good).