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ForexLive Americas FX news wrap: Ominous cancellation from China
- Gold up $17 to $1516
- WTI crude flat at $58.09
- US 10-year yields down 6.6 bps to 1.72%
The session turned on vague headlines about Chinese officials canceling a hastily-planned trip to visit Montana and Nebraska. The report said Chinese negotiators would be headed home instead.
GBPUSD can't keep upside momentum going this week
The GBPUSD last Friday at 1.2496. That was just below the 38.2% of the move down from the March high at 1.25009 and below the 100 day MA. On Monday, the price opened near the close but moved lower. On Tueday the price moved higher and extended above the
US stocks close the day down and also close lower on the week
The major US stock indices are ending the session in the red for the day. The declines today also helped push/keep the week lower.
Spain raised to A from A- by S&P, outlook stable
A glorious day for Spain, who is already at borrowing at +0.236% for 10 years.
CFTC commitment of traders: EUR shorts are being rebuilt over the last few weeks.
- EUR short 69K vs 50K short last week. Shorts increased by 19K
The EUR shorts have started to be built over September. Shorts have increased from -38K to -68K since the end of August.
Risk trades continue to tilt towards deeper worries
Here's a quick rundown:
Those are all session extremes in a sign that the market is increasingly worried about China-US talks falling apart.
Fed's Kaplan says he doesn't see another cut this year but is open minded
Is the silence on the China story right now telling?
News travels faster than ever.
It's been 90 minutes since the news of China cancelling agricultural visits for early next week hit the newswires.