Forexlive Americas FX news wrap: Initial jobless claims show employment market still solid

<ul><li><a href="https://www.forexlive.com/centralbank/bocs-macklem-we-are-concerned-that-progress-in-bringing-down-inflation-has-slowed-20230907/">BOC's Macklem: We are concerned that progress in bringing down inflation has slowed</a></li><li><a href="https://www.forexlive.com/centralbank/macklem-qa-maybe-we-dont-need-to-do-more-maybe-we-do-on-interest-rates-20230907/">Macklem Q&amp;A: Maybe we don't need to do more, maybe we do' on interest rates</a></li><li><a href="https://www.forexlive.com/news/uaw-calls-gm-proposal-insulting-again-treatens-sept-15-strike-20230907/">UAW calls GM proposal 'insulting' again treatens Sept 15 strike</a></li><li><a href="https://www.forexlive.com/centralbank/feds-williams-labor-market-balances-are-evening-out-20230907/">Fed's Williams: Labor market balances are evening out</a></li><li><a href="https://www.forexlive.com/news/us-weekly-initial-jobless-claims-216k-vs-234k-expected-20230907/">US weekly initial jobless claims 216K vs 234K expected</a></li><li><a href="https://www.forexlive.com/news/senate-votes-to-confirm-adriana-kugler-as-federal-reserve-governor-20230907/">Senate votes to confirm Adriana Kugler as Federal Reserve Governor</a></li><li><a href="https://www.forexlive.com/news/us-weekly-eia-crude-oil-inventories-6307k-vs-2064k-expected-20230907/">US weekly EIA crude oil inventories -6307K vs -2064K expected</a></li><li><a href="https://www.forexlive.com/news/us-weekly-natural-gas-inventories-33-bcf-vs-43-bcf-expected-20230907/">US weekly natural gas inventories +33 bcf vs +43 bcf expected</a></li><li><a href="https://www.forexlive.com/news/canada-august-ivey-pmi-535-vs-486-prior-20230907/">Canada August Ivey PMI 53.5 vs 48.6 prior</a></li></ul><p>Markets:</p><ul><li>Gold up $3 to $1919</li><li>US 10-year yields down 3.8 bps to 4.25%</li><li>WTI crude oil down 72-cents to $86.82</li><li>S&amp;P 500 down 0.3%</li><li>JPY leads, CAD lags</li></ul><p>This week has featured a strong push-back on the idea of a slowing US economy. Yesterday's ISM services number was strong and now today initial jobless claims. The dollar initially rallied but yields later came down as a strong bid in bunds appeared that led to a broader bid in Treasuries that pulled down USD/JPY, giving Japanese officials a breather.</p><p>Elsewhere the dollar was robust as global yields fell as some risk aversion crept in. EUR/USD fell 32 pips though it found bids on two trips to 1.0687 as the dip on the figure was brief. Cable followed a similar track as a dip to 1.2446 was short lived.</p><p>The Canadian dollar was an underperformer despite Macklem's best efforts. He delivered a hawkish speech but the market isn't believing in the case for more hikes with economic data slipping. In addition, oil finally came off the boil, breaking a streak of nine days of gain</p>

This article was written by Adam Button at www.forexlive.com.