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21 Feb 2014
Session recap; back to the start again
FXStreet (Guatemala) - The US session had swings and roundabout’s across the calendar and across the majors. From the data, a surprisingly robust Markit Manufacturing PMI came in for Feb read 56.7 vs 53.0 and 53.7 previous. Consumer confidence disappointed at -12.7 vs -11.25 consensus and also the Philly Fed came in lower at -6.3 vs a consensus of 8.0.
EUR is stable on the 1.37 handle and a little firmer than when we had the dismal European data in Europe’s session when the pair dropped from 1.3760 to the lows through 1.3700 and testing 1.3680’s as a base. A nicely bid Euro finished up back onto the 1.3700’s.
Sterling had recovered the losses from 1.6686 to the lows of 1.6640 throughout a session and a half of data releases from Europe and the US, reaching towards 1.6700 where the pair meets supply again. That territory was tested on BoE’s Weales comments saying that the most likely path for interest rates is first rise will come in the Spring of next year. The US session has seen a bias towards the offer and the pair is attempting 1.6660
AUD/USD’s fall out on the Chinese PMI disappointment had no follow through overnight and the pair had managed a pull back through the 0.9000 level post the weekly low through 0.8940.
USD/JPY rallied from the off from 102.00 the figure pounding on the doors of 102.20 and headed towards 102.50. USD/JPY has however, been held up there on supply since the dollar had been performing well on a surprisingly robust Markit Manufacturing PMI for Feb.
Session headlines:
BOE's Weale: Most likely path for interest rates is first rise will come in the Spring of next year
BOE's Weale: Can't rule out earlier rate increase if average earnings rise faster than expected
US January CPI+1.6% y/y, as expected
US weekly jobless claims 336k vs 335k median forecast
US manufacturing PMI for February 56.7, demonstrably better than 53.0 median forecast
Conference Board leading indicators January +0.3% m/m vs median forecast +0.4%
Euro zone consumer confidence -12.7 in February, down from -11.7 in January
Phily Fed manufacturing survey for January was poor -6.3, weaker than 8.0 median forecast
EUR is stable on the 1.37 handle and a little firmer than when we had the dismal European data in Europe’s session when the pair dropped from 1.3760 to the lows through 1.3700 and testing 1.3680’s as a base. A nicely bid Euro finished up back onto the 1.3700’s.
Sterling had recovered the losses from 1.6686 to the lows of 1.6640 throughout a session and a half of data releases from Europe and the US, reaching towards 1.6700 where the pair meets supply again. That territory was tested on BoE’s Weales comments saying that the most likely path for interest rates is first rise will come in the Spring of next year. The US session has seen a bias towards the offer and the pair is attempting 1.6660
AUD/USD’s fall out on the Chinese PMI disappointment had no follow through overnight and the pair had managed a pull back through the 0.9000 level post the weekly low through 0.8940.
USD/JPY rallied from the off from 102.00 the figure pounding on the doors of 102.20 and headed towards 102.50. USD/JPY has however, been held up there on supply since the dollar had been performing well on a surprisingly robust Markit Manufacturing PMI for Feb.
Session headlines:
BOE's Weale: Most likely path for interest rates is first rise will come in the Spring of next year
BOE's Weale: Can't rule out earlier rate increase if average earnings rise faster than expected
US January CPI+1.6% y/y, as expected
US weekly jobless claims 336k vs 335k median forecast
US manufacturing PMI for February 56.7, demonstrably better than 53.0 median forecast
Conference Board leading indicators January +0.3% m/m vs median forecast +0.4%
Euro zone consumer confidence -12.7 in February, down from -11.7 in January
Phily Fed manufacturing survey for January was poor -6.3, weaker than 8.0 median forecast