20 November, 2013
Focus is on the FOMC minutes that are due later this evening, which will be a key driver of the US dollar. During the European session the dollar was mixed, as markets digested yesterday’s comments by Federal Reserve President Ben Bernanke who reiterated the Fed’s continued stimulus program was here to stay.
The euro was flat against the dollar on minor news flow today, but eased off the Asian session highs of $1.3576 to fall to the $1.3520 area where it steadied. German PPI unexpectedly fell today by 0.2% month-over-month.
Sterling remained strong after the Bank of England minutes which showed no surprises and had an upbeat assessment of the UK economy, particularly with respect to economic growth during the second half of the year. GBPUSD climbed as high as $1.6160.
The yen was steadier in the European session as USDJPY struggled to break sustainably above the key level of 100 yen, but traded well within yesterday’s range. Earlier in the Asian session the yen was weighed down by data showing widening Japan’s trade deficit.
EURJPY hit a four-year high of 135.93 as a result of this data, but eased down to the 135 yen level in the European session.
The Australian dollar was weak on a deteriorating fiscal outlook as well as due to global growth concerns. AUDUSD fell to $0.9364. Focus will turn to RBA Governor Stevens who speaks on Thursday at 4:05am EST.
The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...
The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...
The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625
The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...
The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...
The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...
The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...
The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...
The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...