Back
21 Jun 2013
Session Recap: The Dollar advances unperturbed; Euro under pressure
FXstreet.com (San Francisco) - The US stocks fell, bond yields rose, gold collapsed and the Greenback gained broadly. On Thursday the US dollar traded higher as investors are concerned that the Fed is decided to start QE tapering as soon as this year.
The sentiment was accentuated after the Philly fed index jumped to 12.5 in June from -5.2 in May and the housing market advanced 4.2% in May. In fact, a Bloomberg survey of economists published today expects the Federal Reserve to trim QE to $65 bln monthly as soon as September.
The EUR/USD declined to trade below the 1.3200 mark at 1.3160, however the pair managed to recover some ground and it closed around 1.3225. The USD/JPY tested levels above the 98.00 and retraced to finish at 97.40 and the AUD/USD collapsed further on Thursday to test the lowest level since September 2010 at 0.9160.
The USD/CAD jumped more than 100 pips in the day from 1.0265 to price at 1.0495 and the NZD/USD broke below the 1-year low of 0.7760 to reach a fresh minimum at 0.7710.
Main headlines in the American session:
US: Initial Jobless Claims rose to 345K last week
US: Flash PMI Manufacturing slightly down to 52.2 in June
Gold falls to lowest since September 2010 – what’s next?
June US Philly Fed 12.5 vs -2.0 exp
EMU: Consumer Confidence up to -18.8 in June
US: Existing Home Sales increase more than expected in May
IMF threatens to suspend payments to Greece - FT
Wall Street collapses further on QE and China concerns
EU Fin Min struck deal on bank bailouts
The sentiment was accentuated after the Philly fed index jumped to 12.5 in June from -5.2 in May and the housing market advanced 4.2% in May. In fact, a Bloomberg survey of economists published today expects the Federal Reserve to trim QE to $65 bln monthly as soon as September.
The EUR/USD declined to trade below the 1.3200 mark at 1.3160, however the pair managed to recover some ground and it closed around 1.3225. The USD/JPY tested levels above the 98.00 and retraced to finish at 97.40 and the AUD/USD collapsed further on Thursday to test the lowest level since September 2010 at 0.9160.
The USD/CAD jumped more than 100 pips in the day from 1.0265 to price at 1.0495 and the NZD/USD broke below the 1-year low of 0.7760 to reach a fresh minimum at 0.7710.
Main headlines in the American session:
US: Initial Jobless Claims rose to 345K last week
US: Flash PMI Manufacturing slightly down to 52.2 in June
Gold falls to lowest since September 2010 – what’s next?
June US Philly Fed 12.5 vs -2.0 exp
EMU: Consumer Confidence up to -18.8 in June
US: Existing Home Sales increase more than expected in May
IMF threatens to suspend payments to Greece - FT
Wall Street collapses further on QE and China concerns
EU Fin Min struck deal on bank bailouts