In a rush? Here’s the key takeaway
- US stocks didn’t rock back with over exuberance but they did finish higher on the day amid more Fed dovishness and decent results from Walmart. At the close the S&P 500 was up 0.15% at 2,779…..edging closer to the range top.
- The big news though, for forex markets and news agencies though was the rehash of a story saying the US wants China to keep its currency stable – oh the paradox of the process that says the state should stay out of industrial policy but be involved in foreign exchange markets. So the DXY is at 96.52 and USDCNH is down at 6.7456.
- Gold busted higher, oil has a bid, copper broke out. It’s all good.