Forexlive Americas FX news wrap: Up and down activity but little changes on the day

Forex news for US trading on August 29, 2016

• US stock close higher but off the highs


• Forex trading: How does the buy NZDUSD trade look technically?


• Crude oil futures settle at $46.98


• Dollar weakness creeps into the market


• The top 5 events releases for the week


• The paradigm shift on fiscal spending could flip the inflation switch


• Credit Suisse trade of the week: Buy NZD/USD


• Trouble brewing on the EU-US tax front


• Atlanta Fed GDPNow forecast rises to 3.5% from 3.4%


• Iraq to start talks with Kurds on boosting oil output


• European stocks end lower on the day


• No change in our Fed call after Yellen's speech; still see a December hike - Nomura


• Dallas Fed Manufacturing index lower in August at -6.2 vs -1.3 last month


• Markets are sending mixed signals on the Fed


• Canada Nanos weekly economic mood index 59.3 vs 59.9 prior


• US dollar unmoved by PCE data as market continues to digest Fed talk


• Forex technical analysis: GBPUSD trading near MA/50% retracement


• US PCE core for July +0.1% vs 0.1% estimate.


• US personal income for July 0.4% vs. +0.4% est. Spending 0.3% vs. +0.3% est


• The strongest and weakest currencies as NA traders enter for the day

It was a banking holiday in the UK today, so activity was influenced by the traders who were absent (if they are not there, they can't trade).

Nevertheless, there was a pretty good move lower in bond yields today (US yields down about 7 basis points) and that helped to contribute to an afternoon fall in the US dollar.  That fall helped to erase modest earlier gains in the greenback on the back of follow through buying after last Friday's Fed headlines (from Yellen, to Bullard to Fischer, to Meister, etc.).  That was then. This is now. The "now" may actually be a look ahead to the next big Friday event - the US employment report. 

No say it isn't so!  Not another week of waiting for Friday.  It might just be. But good news ahead as summer will be over after next Monday's Labor Day holiday in the US.  Perhaps we can build on some new trend moves at that time. 

Forexlive Americas FX news wrap: Up and down activity but little changes on the day
Forexlive Americas FX news wrap: Up and down activity but little changes on the day
http://www.forexlive.com/feed/news