Forex news for US trading on July 29, 2016:
Markets:
– Gold up $18 to $1354
– WTI crude up 33-cents to $41.46
– US 10-year yields down 5 bps to 2.18%
– S&P 500 touches fresh all-time high, finishes up 5 points to 2175
The US dollar was beaten up after weak second quarter GDP and a downward revision to Q1. The economy grew at just a 1% pace in the first half of the year. Some of the miss was dulled because it was an inventory adjustment but the dollar was sold nonetheless.
