Loading...
Loading...
US CPI rise 0.3%, unchanged ex-food and energy
University of Michigan consumer sentiment index falls to 66.6 preliminary in September from 68.9 final in August
Fitch downgrades Spanish regions of Catalonia and Andalusia
Irish FinMin, IMF deny Ireland will need external financial help
Japan PM Kan tips fresh stimulus spending, continued steps against strong JPY
ECB's Mersch: Financial system fragile; must extend monetary policy horizon
President Obama. Chinese PM Wen to meet next week in New York
Very choppy trade was the hallmark of US morning trade as European sovereign debt fears stole the spotlight from USD/JPY. The Irish press ceased on concerns raised in a report from Barclays earlier in the week about Anglo Irish bank and suggested that default by Ireland was inevitable. Both Ireland and the IMF pushed back hard at the notion but the damage was done for the day. EUR/USD fell as low as 1.3020 intraday from 1.3095 after the Irish denial. It spent the bulk of the US afternoon trading between 40 and 60.
The sudden return of risk aversion sent EUR/CHF reeling from nearly 1.3400 in London to 1.3140 late in London.
USD/JPY was bracketed in a very tight BOJ-inspired range between 85.65 and 85.88. The prevailing downtrend in place since April has yet to give way. We close at 85.75.
Cable was a a bit cruel to momentum players as it broke to fresh range highs at 1.5730 overnight (after breaking 1.5705 resistance) only to slump back to close at 1.5615.
AUD and CAD slipped on profit-taking as the European news rattled longs. USD/CAD looks to have put in a near-term bottom while AUD maintains a consolidation below the key options level at 0.9475.
Have a wonderful weekend all!
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in