Relief after yesterday’s strong data, commitment from some Fed members to maintain stimulus if needed and the market’s reassessment of what had changed provided the grounds for some stabilization after violent trading earlier in the week. Momentum wascarried into the European and Asian sessions, helping to push equities higher, WTI oil back above $84, US yields to 2.2% and a mixed USD. Today’s focus will be building starts, the October University of Michigan confidence and Fed Chair Yellen’s speech.
Read the full report: FX Daily