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Squawk / 15 May 2018 at 20:32 GMT
FX Trade Strategist / www.Loonieviews.net
Canada
US Wrap: Part 2....... The US data wasn’t anything special either. April Retail Sales rose 0.3%, as expected while Retail Sales, ex-autos rose only 0.3% instead of 0.5% that was forecast. Business Inventories were 0 instead of 0.1% and the NAHB Housing Market index was 70. (forecast 69)

Nevertheless, the US caught a bid, coinciding with a rally in 10-year US Treasury yields which climbed from 2.997 to 3.095. The Long bond yield rose from 3.127 to 3.225.

EURUSD collapsed to 1.1820 ahead of the 10:00 am option expiry time and then bounced to 1.1870 by mid-day. Prices drifted lower in the afternoon. North Korea suspended high-level talks with South Korea after the US, and South Korea went ahead with military exercises.

Sterling was crushed. GBPUSD plunged to 1.3450 from 1.3550, tracking EURUSD moves and it also recovered, reaching 1.3528 by lunch hour.

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