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Forexlive Americas FX news wrap: No bad luck on Friday the 13th. Stocks rebound. |


It was Friday the 13th but the day was not a scary one for the markets. After sharp declines in the US stocks, bond yields and crypto coming into the day, today saw stocks rebound, yields moved back higher and bitcoin even rallied.

Fundamentally, however, there was a scare as the UMichigan preliminary consumer sentiment tumbled to 59.1 vs 64.0 estimate. That was the lowest level in 10 years.

Looking at the components they 2 showed weakness with current conditions in the expectations both falling sharply and inflation expectations remaining steady at high levels:

  • Current conditions 63.6 vs 70.5 expected
  • Expectations 56.3 vs 63.0 expected
  • 1-year inflation expectations 5.4% vs 5.4% prior
  • 5-10 year inflation expectations 3.0% vs 3.0% prior

In the forex market today, the USD retraced some of the gains seen of late. The greenback moved lower vs. all the major currencies with the exception of the JPY.

The strongest to the weakest of the major currencies

The AUD, CAD and NZD were the strongest of the  majors  as risk on sentiment increased. The JPY – which traded to yet another 20 year high on Monday before reversing to the downside on Tuesday to Thursday, rebounded back higher today on the increased risk tone and exit out of the relative safety of the  JPY 



Read More : Forexlive Americas FX news wrap: No bad luck on Friday the 13th. Stocks rebound. |

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