The US dollar returned to the upside as geopolitical fears rebounded after US President Trump's address to the nation. The rhetoric fuelled risk aversion and flows toward the dollar while oil prices surged.
High energy prices are kryptonite for the housing market. Affordability, especially for those first-time home buyers, is now an elusive dream until oil prices come down and interest rates come down.
"Jobs may be a bit modest when we look out over the last couple of years, but pay is telling a different story - that there is still a little bit of tightness in this labor market," ADP chief economist Nela Richardson told reporters Wednesday morning.
Escalating geopolitical risk continued to dominate global markets' concerns, with safe-haven demand keeping the dollar index anchored near a multi-week high.
'Walmart Worries' just keep multiplying. It's currently close to the highest level ever recorded which was during the Great Financial Crisis of 2008-09.
U.S. financial markets experienced a volatile week, largely influenced by geopolitical developments in the Middle East and fluctuations in energy prices. Investor sentiment was driven primarily by external events rather than domestic fundamentals.