FX Files – USD Pivot Post NFP?

FICC Strategy Reports

Oil falls with WTI at $89.14 (-4.0% OTD) over a French proposal for European countries and IEA member nations to release 100 million barrels of crude and diesel stockpiles. In recent days, both Trump and Bessent has urged the EU to release its diesel stockpiles to help avert US export curbs. While crude moving out of the region is close to pre-war levels, negotiations between the US and Iran to fully open the Strait of Hormuz remain turbulent. The Pentagon announced it will deploy 10,000 more troops and a third aircraft carrier to the region.

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