Lots of movement, not much direction
Friday 17th September 2021There was a lot of movement overnight, with US equities falling, then regaining some of the losses in late trade. Most currencies fell against a rising US dollar, but even some of those were pared back as the session progressed. The fall in equities happened despite a rise in US retail numbers, when sales were expected to fall. NAB’s Gavin Friend says markets clearly didn’t know which way to take it. There have, of course, been other surprises in the last 24 hours. Australian employment numbers fell more sharply than anticipated and NZ GDP was stronger than expected…
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