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Commodity-Tied Currencies Shake Off Gold Volatility

FOREX
  • Commodity-tied currencies have been in focus with AUD, ZAR and others seeing early weakness after gold suffered an abrupt and sharp intraday sell-off. The bounce off the lows in gold has helped these currencies claw back initial losses, with the picture far more stable headed into the NY crossover.
  • Stock markets sit just below recent highs, with markets generally working against the post-payrolls moves seen Friday. JPY is slightly stronger, with USD/JPY edging off last week's highs, but holding comfortably above 110.00.
  • NOK is the poorest performer so far, with USD/NOK inching back toward the 9.00 handle as oil benchmarks extend recent losses.
  • The data slate is relatively light Monday, with JOLTS job openings numbers the only real highlight. The central bank speaker schedule should be of more interest, with both Fed's Bostic and Barkin both on the docket.
Energy BulletsCommodities
Energy BulletsCommodities

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