investingLive Americas FX news wrap 8 Aug. The USD was little changed. Nasdaq new rec

[Forex News]

• Putin would agree to cease-fire if Ukraine ceded Donetsk, Luhansk and Crimea
• NASDAQ index closes at a new record high and also makes a new intraday high today
• Trumps team is expanding the search for the Fed Chair
• White House to clarify misinformation on gold tariffs
• Canada's Carney: Pressed on jobs data said wage growth now outpacing CPI growth
• Baker Hughes oil rig count +1 at 411
• Trump and Putin summit is tentatively scheduled for the end of next week
• European indices close mixed.German Dax, UK FTSE unchanged. Spain, Italy, France higher.
• Feds Musalem: Economic activity appears stable, not increasing or decreasing
• Sanctioning the Supply Chain: Why US Tariffs on Russian Oil Buyers Could Backfire
• US/Russian officials are working toward an agreement on territories for summit
• Canada July employment change -40.8K vs +13.5K expected
• investingLive European markets wrap: Dollar, stocks steady in final stretch of the week
• BoE's Pill: There is some shift in the balance of risks on inflation

The US dollar is closing the day mostly higher. The one exception is a modest decline versus the GBP (which was the strongest currency this week).

The Feds Musalem was more hawkish compared to other Fed members post the US jobs report. He is still concerned about the impact from tariffs on inflation good where they are.

Other news today, Canada was weaker than expectations with a decline of -40.8 job vs expectations of 13.5K. The USDCAD moved higher on the news but the gains found some selling near the 100 hour MA at 1.3757

For the trading day the markets were mostly up and down with most of the major currencies trading with 0.21% from the previous day's close. :

• EUR +0.21%
• JPY +0.46%
• GBP -0.06%
• CHF +0.21%
• CAD +0.11%
• AUD +0.05%
• NZD +0.13%

For the trading week, the USD was mixed. Below are the USD changes vs the major currencies:

• EUR -0.48%
• JPY +0.26%
• GBP -1.35%
• CHF +0.62%
• CAD -0.23%
• AUD +0.83%
• NZD -0.71%

The GBP moved higher this week helped by the hawkish cut from the BOE. The central back lowered rates by 25 basis points but the vote of 5-4 was closer than the 7-2 expected. As a result, the dollar lows -1.35% vs the GBP today.

The USD was the strongest vs the AUD and the CHF. The USD moved higher vs the CHF after the Trump administration raised the Switzerland tariffs to 39%, one of the highest levels among the major trading partners.

For a technical look at the major currency pairs going into the new trading week, click on the following links:

• EURUSD technicals
• USDJPY technicals
• GBPUSD technicals
• USDCHF technicals
• USDCAD technicals
• AUDUSD technicals

The NASDAQ index closed at another record high. The S&P index closed just short of all-time record high close. For the trading week, both the broader indices had their best weeks since April 23. The S&P index rose 2.43% while the NASDAQ index advanced by 3.87%.

Looking at the US yield curve, yields today were higher.

• US 2Y T-Note: 3.7624% (+2.8 bps)
  
• US 5Y T-Note: 3.8312% (+4.1 bps)
  
• US 10Y T-Note: 4.2849% (+4.1 bps)
  
• US 30Y T-Bond: 4.8524% (+4.0 bps)
  

For the trading week, yields are also higher. Recall last week, yields fell sharply after the weaker than expected US jobs report.:

• US 2Y T-Note:+8.2 bps
  
• US 5Y T-Note: +7.6 bps
  
• US 10Y T-Note: +6.9 bps
  
• US 30Y T-Bond: +3.0 bps
  

This article was written by Greg Michalowski at investinglive.com.

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