BUZZ-COMMENT-US recap: EUR/USD down as post-LDP yen steals show

Reuters · 09/27 18:46
BUZZ-COMMENT-US recap: EUR/USD down as post-LDP yen steals show

- The dollar traded mixed Friday as Treasury yields eased following data that showed U.S. inflation pressures easing and growth moderating.

The core CPE price index rose 0.1% in August versus a 0.2% forecast while income and consumption readings for the month missed estimates.

The euro traded defensively amid growing risks of an European Central Bank rate cut in October with market pricing at 80%, according to money markets.

Japan's incoming prime minister, Shigeru Ishiba, said the BOJ should decide monetary policy.

UK retail sales grew at the fastest pace since May, according to the CBI industry report.

Canada's gross domestic product expanded at a faster-than-expected 0.2% rate in July, but an advance estimate indicated that growth likely stalled in August.

The Australian dollar briefly touched a new 2024 high following the U.S. data.

Treasury yields fell 3-6 basis points as the curve steepened. The 2s-10s curve was up about 1 basis point to +18.6bp.

The S&P 500 fell 0.12%, pulling back after setting a record close this week.

WTI rose 0.77%, rebounding from a sharp decline this week due to supply concerns.

Gold dropped 0.90%, though it was on pace for its best quarter in eight years.

Copper dipped 1.07% amid position squaring ahead of quarter-end.

Heading toward the close: EUR/USD -0.12%, USD/JPY -1.73%, GBP/USD -0.26%, AUD/USD +0.18%, DXY -0.10%, EUR/JPY -1.90%, GBP/JPY -1.25%, AUD/JPY -1.55%.


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(Editing by Burton Frierson
Reporting by Robert Fullem)

((robert.fullem@thomsonreuters.com;))