Forex news for New York trading on March 8, 2016:
Markets:
– Gold down $6 to $1261
– S&P 500 down 22 points to 1979
– US 10-year yields down 7 bps to 2.63%
The moment the Chinese trade numbers crossed the wires, it began to look like it could be a rougher day for risk trades. The S&P 500 had been riding a five day winning streak but with exports falling 20.6% y/y, there was a recipe for trouble.
