- US September factory orders -0.5% versus -0.5% expected
- US October employment trends 107.66 versus 107.58 last month
- The US treasury auctions off $58B of 3-year notes at a high yield of 4.152%
- OPEC survey: Output rises 190K bpd led by Libyan recovery
- OPEC secretary general Al Ghais: We are very positive on demand
Markets:
- Gold up $2 to $2737
- US 10-year yields down 6 bps to 4.23%
- WTI crude oil up $2.11 to $71.61
- S&P 500 down 0.3%
- CHF leads, USD lags
The US dollar generally weakened on Monday as polls showed a tight Presidential race. Yields fell and that hurt the US dollar, though there was something of a rebound after a softer Treasury auction.
Most of the US dollar selling came early in the day and we some something of a bounce in US trading as risk assets sagged. US stock futures were higher but couldn’t be sustained as large-cap tech weighed.
The euro jumped at the Asian open and continued higher early in Europe and hit 1.0914 only to track slowly down to 1.0875, erasing all but the opening gap.
This article was written by Adam Button at www.forexlive.com.
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