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30 May 2014
Session Recap: Quiet month-end, focus on next week events
FXStreet (Córdoba) - FX market has transited a quiet European session so far despite the month-end positioning and adjustment, with the dollar only a tad lower versus major competitors. Investors focus is now turning to next week’s BoE, ECB decisions and the US nonfarm payrolls.
ECB meeting is taking special attention after Draghi hinted at easing measures, amid growing expectations the bank cut cut rates further.
The EUR/USD consolidates above 1.3600 after posting a 3-month low of 1.3585 the previous day. The GBP/USD trades slightly higher around 1.6730 after failing to overcome the 1.6760 area. The USD/JPY has recovered slightly along with US yields, but remains in negative territory for the dat at 101.65.
The AUD/USD is back to 0.9300 after finding resistance at a 10-day high of 0.9330. However, the Aussie is on track to end the last trading week of May as the best performing G10 currency, up 0.83%, after Thursday’s capex data gave the AUD a boost.
During the New York session watch for US personal income and spending for April, Chicago PMI and the Reuters/Michigan consumer confidence index for May. Also 3 FOMC members are set to speak.
Main headlines in Europe:
Germany Retail Sales (MoM) registered at -0.9%, below expectations (0.4%) in April
European stocks mixed, Stoxx 600 headed for 7th weekly gain
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Greece Retail Sales (YoY) declined to -0.8% in March from previous 0.6%
Italy Consumer Price Index (MoM) registered at -0.1%, below expectations (0%) in May
ECB's Visco reiterates readiness to act if inflation is projected to remain low for longer
IMF urges Japan to boost reforms aimed at stimulating growth and competitiveness
ECB and BoE present proposals for improving ABS market
ECB meeting is taking special attention after Draghi hinted at easing measures, amid growing expectations the bank cut cut rates further.
The EUR/USD consolidates above 1.3600 after posting a 3-month low of 1.3585 the previous day. The GBP/USD trades slightly higher around 1.6730 after failing to overcome the 1.6760 area. The USD/JPY has recovered slightly along with US yields, but remains in negative territory for the dat at 101.65.
The AUD/USD is back to 0.9300 after finding resistance at a 10-day high of 0.9330. However, the Aussie is on track to end the last trading week of May as the best performing G10 currency, up 0.83%, after Thursday’s capex data gave the AUD a boost.
During the New York session watch for US personal income and spending for April, Chicago PMI and the Reuters/Michigan consumer confidence index for May. Also 3 FOMC members are set to speak.
Main headlines in Europe:
Germany Retail Sales (MoM) registered at -0.9%, below expectations (0.4%) in April
European stocks mixed, Stoxx 600 headed for 7th weekly gain
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Greece Retail Sales (YoY) declined to -0.8% in March from previous 0.6%
Italy Consumer Price Index (MoM) registered at -0.1%, below expectations (0%) in May
ECB's Visco reiterates readiness to act if inflation is projected to remain low for longer
IMF urges Japan to boost reforms aimed at stimulating growth and competitiveness
ECB and BoE present proposals for improving ABS market