Forex today: risk sentiment affected by Barcelona 'Terror Attack'
|Forex today sadly witnessed and traded upon the shocking atrocities that occurred on the heavily populated tourist strip of Barcelona, Las Ramblas, where a hired van plowed through hundreds of innocent people killing at least 13 and leaving many more innocent injured.
US Treasuries and the yen were the main benefactors while the DXY paired back early gains earned by promising data on the day. US stocks were taking a beating on the back of the attacks and along with further political concerns in the Trump administration.
For data, there was a slight miss in US industrial production that came in at 0.2% in July vs 0.3% expected, but crucially, the manufacturing surveys were positive. US weekly initial claims were 232,000, a decrease of 12,000 from the previous week. We also had Fed speakers Kaplan and Kashkari, neither of which were able to offer much in the way of bullish outlooks for the US economy and Kaplan was particularly dovish.
A quick glance at the score board, the euro was down -0.31% at 1.1729, USD/JPY -0.63% at 109.50, GBP/USD -0.16% at 1.2870, USD/CHF -0.33% at 0.9626. Commodities were mixed with gold higher by 0.30% at $1,288.25 and WTI was down -0.26%. Copper was higher +0.24%. AUD/USD was down -0.43%, USD/CAD +0.41% and the Kiwi -0.36%.
Asian key events
for today, we have China's July property prices. "2017 has continued the convergence in annual new home price growth across the three tiers to 10%yr with tier 1 having slowed from a 31%yr high in 2016," explained analysts at Westpac.
Key notes from US session:
- Van has crashed into ‘dozens of people’ in Barcelona’s City Centre - La Vanguardia
- US industrial production shows slight downside miss - ING
- Philly Fed: Manufacturing conditions in the region continued to advance in August
- US: Weekly initial claims was 232,000, a decrease of 12,000 from previous week
- Cohn intends to remain in his position as NEC director - WH official - Reuters
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