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ForexLive Americas FX news wrap: Canadian dollar touches 7-month high

Forex news for New York trade on June 28, 2019:

Market:

  • Gold flat at $1409
  • WTI crude down $1.23 to $58.20
  • S&P 500 up 17 points to 2941
  • US 10-year yields down 1 bps to 2.00%
  • NZD leads, JPY lags on the day

The Canadian dollar made a pair of attempts to break out and it crossed the finish line on the second one, only to back off later. The GDP number gave it a boost but it was the Business Outlook Survey that sent USD/CAD below the January low of 1.1069 and a further 9 pips lower. However it rebounded all the way to 1.3100 later as oil sank.

EUR/USD was caught up in the month-end madness. It fell briefly on the PCE data but recovered and as around 1.1390 when it chopped on fixing flows before falling to 1.1350 in a quick move and the bouncing 20 pips.

Cable was similarly whippy into month end as it grindied to 1.2730 from 1.2680 only to fall back 30 pips into the London close.

USD/JPY climbed in fits and starts but ultimately ended the day a few pips higher after falling in Europe. Credit a strong finish for US stocks in what was a great month.

AUD and NZD also had strong finishes to the month with NZD/JPY finishing with six straight daily gains. The RBA is on Tuesday but first we will have to get through the G20 and OPEC meeting.

Have a great weekend.

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