What you need to know on Friday, October 15:
As Treasury yields remained at the lower end of the weekly range, the dollar remained weak. The 10-year US Treasury yield bottomed out at 1,507%, ending the day close. As for the dollar, it managed to post a modest intraday advance against the euro and the Swiss franc.
Wall Street rallied thanks to better-than-expected earnings reports from big names, including banks like Morgan Stanley, Bank of America and Citigroup.
Upbeat US data provided additional support to the market sentiment. September’s producer price index rose 0.5% month-on-month and 8.6% year-on-year, higher than August readings, albeit disappointing market expectations, while initial jobless claims for the week ending October 8 293,000 were printed, much better than the 319,000 expected.
EUR / USD lost the 1.1600 level, ending the day a few pips below the level. GBP / USD closed at 1.3860, while commodity currencies were the best performers. AUD / USD regained the 0.7400 mark, while USD / CAD fell to 1.2354, a new multi-week low.
Oil prices went up. The International Energy Agency said record natural gas prices would boost demand for oil and top oil producer Saudi Arabia rejected requests for additional supply from OPEC +. The WTI closed at $ 81.40 a barrel. Gold flirted with $ 1,800 a troy ounce, ending the day just below the level.
Friday will bring the US Retail Sales and Michigan Consumer Sentiment Index.
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