N.Y. FX Outlook
N.Y. FX Outlook: After modest gyrations overnight, the dollar is little changed from Thursday's N.Y. closing levels. EUR-USD trades near 1.1765, with USD-JPY at 109.15, after printing new two-month lows of 108.91 in London. Risk-off conditions have again largely prevailed, with the U.S/N. Korea war of words driving market fears. USD-CAD has remained over the 1.2700 mark, as WTI crude prices drop to near $48/bbl, after briefly trading over $50 yesterday, as cable ran into sellers into the 1.3000 mark, with that pairing remaining in sell-the-rally mode on economic and Brexit uncertainties. Traders await the key U.S. July CPI figures, which will factor importantly into the FOMC's rate calculus. Analysts're forecasting a 0.2% overall rise, from unchanged previously, and a 0.1% increase in the core measure from June's 0.1% gain. Risk is for weaker numbers after the disappointing PPI figures Thursday.