Forex news for US trading on August 11, 2015:
– Q2 unit labor costs +0.5% vs +0.0% expected
– WTI crude down $1.63 to $43.33
– Gold up $4 to $1108
– S&P 500 down 19 points to 2084
Oil completely reversed Monday’s gain and the Canadian dollar nearly did the same. It was all about the PBOC devaluation move. It left everyone scrambling to a safe haven on talk of FX wars and uncertainty.