Forex: AUD/USD recovery capped by 0.9865

FXstreet.com (Córdoba) - The Australian dollar managed to trim part of its steep losses against the greenback following the release of US data, which showed jobless claims, housing starts and CPI numbers missed market's expectations.

AUD/USD climbed over 50 pips after the data and reached a session high of 0.9865, before the 20-hour SMA offered resistance. The AUD/USD is currently trading around 0.9840, where it prints a 0.6% loss on Thursday, having hit an 11-month low of 0.9795 earlier on the day.

If AUD/USD manages to recover above 0.9865, next resistances might be faced at 0.9912 (daily high) and 0.9930 (100-hour SMA), while on the other side, supports could be found at 0.9795 (11-month low) and 0.9740 (low Jun 6 2012).

May 16, 2013

Forex Flash: Rates watch – Greece gets an upgrade, Italy issues 30y for first time since 2009 – Deutsche Bank

Yesterday was a decent day for Treasuries despite the performance of equities. The 10-year and 30- yield both rallied by about 4bp to set the benchmarks at 1.935% and 3.156% at the end of the US session.

American equity markets a mixed bag at opening

The US stock market experienced a generally subdued opening, with indices differing in performance. Most notably ahead is the highly anticipated word out of the US regarding the abating of the stimulus program. Earlier today, economic data out of America made waves – in particular, the Consumer Price Index (YoY and MoM) came in at +1.1% in April (against expectations of +1.3%) and -0.4% in April (vs. projections of -0.2%) respectively. In addition, the Consumer Price Index ex Food & Energy (YoY) climbed +1.7% in April, relative to a consensus of +1.8%.