Forex Today: Risk sentiment to keep leading the way
What you need to know on Monday, July 12:
The market mood improved ahead of the weekly close, with the greenback down against most of its major rivals. The Pound was the best performer, while the JPY was the worst.
The EUR/USD pair held within familiar levels, settling at 1.1875, while GBP/USD trades around the 1.3900 level. Commodity-linked currencies advanced, with the CAD getting boosted by Canadian employment figures, as the country added 230.7K new jobs in June, largely surpassing expectations. The unemployment rate decreased from 8.2% to 7.8% while the Participation Rate increased to 65.2%.
Over the weekend, Japan´s top government spokesman said that the country is ready to pump more money into the economy to ease the pain of a prolonged pandemic and after announcing yet another state of emergency for Tokyo.
US Treasury yields bounced from Thursday’s low, with that on the 10-year note settling at 1.36% after plummeting to 1.25%.
Wall Street soared, with the DJIA adding roughly 450 points, and the S&P hitting fresh all-time highs.
Gold finished the week with modest gains at $1,808 a troy ounce, while crude oil prices were unchanged, with WTI trading at $74.60 a barrel.
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Author
Valeria Bednarik
FXStreet
Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.
