Daily Video Recap (9/2): Markets Consolidate, ECB to Continue to Support Banks, US Data Surprises
Currency markets mainly consolidated ahead of tomorrow's non-farm payroll report. The ECB extended its unlimited cash to banks throughout this year, an attempt to not take away special liquidity measure when financial markets remain fragile. US data showed labor productivity slid in the 2nd quarter - a sign companies may have to start hiring, while a measure of pending home sales surprised on the upside - a rare positive release for the US housing market.
