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5 Jun 2013
Session Recap: Emotional Dollar declines ahead Jobs and Central Banks
FXstreet.com (San Francisco) - The Greenbank traded lower against its major competitors as the investors are concerned about global recovery, the employment market in the US and the Central Banks upcoming decisions.
"Loads of emotional movements was the main theme this Wednesday in the forex board, as US employment data disappointed big, while ISM exceeded expectations," commented Valeria Bednarik, FXstreet.com chief editor, in a recent report. "Market talking is all about ECB negative rates for deposits and US QE tapering, not sure about how any of each will result: tomorrow ECB meeting will bring some light on the first, while Friday US NFP numbers will offer a clearer picture on the second."
The EUR/USD traded at highs since May 9th around 1.3115 and it is currently closing the day at 1.3095. The GBP/JPY rocketed to close above the 1.5400 area and the USD/JPY declined to touch levels shy below the 99.00 again. On the other hand, the AUD/USD tested a fresh low since October 2011 at 0.9510.
Main headlines in the American Session:
US: ADP Employment Change rose to 135K in May
Canada: Building Permits rose 10.5% MoM in April
US: ISM Non-Manufacturing PMI climbs more than expected in May
European stock close 5 June: A blood bath as hope for a US recovery crumble
IMF admits it fudged the numbers on Greece: WSJ
Fed's Beige Book: US continues to grow at a modest to moderate pace
Wall Street collapses on bad US data
"Loads of emotional movements was the main theme this Wednesday in the forex board, as US employment data disappointed big, while ISM exceeded expectations," commented Valeria Bednarik, FXstreet.com chief editor, in a recent report. "Market talking is all about ECB negative rates for deposits and US QE tapering, not sure about how any of each will result: tomorrow ECB meeting will bring some light on the first, while Friday US NFP numbers will offer a clearer picture on the second."
The EUR/USD traded at highs since May 9th around 1.3115 and it is currently closing the day at 1.3095. The GBP/JPY rocketed to close above the 1.5400 area and the USD/JPY declined to touch levels shy below the 99.00 again. On the other hand, the AUD/USD tested a fresh low since October 2011 at 0.9510.
Main headlines in the American Session:
US: ADP Employment Change rose to 135K in May
Canada: Building Permits rose 10.5% MoM in April
US: ISM Non-Manufacturing PMI climbs more than expected in May
European stock close 5 June: A blood bath as hope for a US recovery crumble
IMF admits it fudged the numbers on Greece: WSJ
Fed's Beige Book: US continues to grow at a modest to moderate pace
Wall Street collapses on bad US data