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22 May 2014
Session Recap: USD consolidates gains, CAD the best performer
FXStreet (Córdoba) - On another quiet American session the US dollar consolidated gains but the best performer was the Canadian dollar. Greenback showed strength across the board despite rising stocks and economic data.
The EUR/USD moved in ranges during the US session and remained close to the lows, hovering around 1.3650. The Swiss Franc was the best performer among European currencies but it failed to rise against the US dollar: the USD/CHF did not reach fresh monthly highs but posted the highest close since February at 0.8942.
Cable weakened after economic data from the UK but then managed to trim losses. The GBP/USD failed to hold above 1.6900 and pulled back finding support at 1.6850.
The Aussie and the Kiwi lost ground across the board. The AUD/USD and the NZD/USD retreated but managed to hold above key technical levels like 0.9200 and 0.8500/15 respectively. The Loonie was the best of the day despite weak economic data from Canada (March retail sales -0.1%): the USD/CAD finished below 1.0900 ahead of Friday, when inflation data will be released.
The USD/JPY moved with an upside bias all day and continue to recover after falling on Wednesday below 101.00 and closed at 101.70, the strongest price in a week.
In the US, the Leading Economic Index rose in April 0.4%, while the PMI manufacturing index reached a 3-month high at 56.2, up from 55.4, both reports surpassed expectations. On the negative side, sales of existing homes rose 1.3%, below the 2.2% expected while initial jobless claims increased by 28.000 to 326.000 in the week of May 17, a higher number than expected.
Main headlines in the American session
US stocks advance for second day
GBP/USD to shift to the downside on BoE splits?
">EUR/JPY moving up to test 139 again
EUR/USD glued to 1.3650
AUD/USD testing the downside
ECB - what to do? - BBH
The EUR/USD moved in ranges during the US session and remained close to the lows, hovering around 1.3650. The Swiss Franc was the best performer among European currencies but it failed to rise against the US dollar: the USD/CHF did not reach fresh monthly highs but posted the highest close since February at 0.8942.
Cable weakened after economic data from the UK but then managed to trim losses. The GBP/USD failed to hold above 1.6900 and pulled back finding support at 1.6850.
The Aussie and the Kiwi lost ground across the board. The AUD/USD and the NZD/USD retreated but managed to hold above key technical levels like 0.9200 and 0.8500/15 respectively. The Loonie was the best of the day despite weak economic data from Canada (March retail sales -0.1%): the USD/CAD finished below 1.0900 ahead of Friday, when inflation data will be released.
The USD/JPY moved with an upside bias all day and continue to recover after falling on Wednesday below 101.00 and closed at 101.70, the strongest price in a week.
In the US, the Leading Economic Index rose in April 0.4%, while the PMI manufacturing index reached a 3-month high at 56.2, up from 55.4, both reports surpassed expectations. On the negative side, sales of existing homes rose 1.3%, below the 2.2% expected while initial jobless claims increased by 28.000 to 326.000 in the week of May 17, a higher number than expected.
Main headlines in the American session
US stocks advance for second day
GBP/USD to shift to the downside on BoE splits?
">EUR/JPY moving up to test 139 again
EUR/USD glued to 1.3650
AUD/USD testing the downside
ECB - what to do? - BBH