Forex news for January 8, 2015:
– US November wholesale trade sales -1.0% vs 0.0% expected
– Gold down $5 to $1104
– WTI crude down 34-cents to $32.93
– S&P 500 down 21 points to 1922
Non-farm payrolls looked like it would come to the rescue of the stock market and USD/JPY. It was a great report save for the weak wage growth and USD/JPY instantly shot to 118.80 from 118.30 but that turned out the be the high of the day and it was erased in 10 minutes. From there it was a steady stream of selling all the way to 117.32 just before the close. That’s narrowly below Thursday’s low. It came in low liquidity but it’s not a great sign.
