U.S. Session Recap – January 21, 2014

  • IMF set to upgrade UK’s forecasts more than the other economies?
  • NZ CPI (q/q) comes in at 0.1% vs. -0.1% expected

The U.S. was out on a holiday as Americans celebrated Martin Luther King, Jr., an American activist who was best known for his work towards the advancement of civil rights. Unfortunately, the European markets failed to pick up the slack.

Germany’s positive PPI report only lifted EUR/USD by 20 pips. GBP/USD started the session by dropping by 30 pips but soon found support when Sky News reported that the International Monetary Fund (IMF) might raise the U.K.’s outlook more than the other major economies. If you remember, the IMF has strongly criticized the country’s steep budget cuts and the government’s dependence on consumers.

The comdolls also joined the snoozefest as AUD/USD and USD/CAD closed near their open prices while NZD/USD only showed a 20-pip gain.

Will we see more volatility today? There are no major reports scheduled during the Asian session aside from New Zealand’s better-than-expected quarterly inflation report. Keep an eye on Japanese and Chinese markets as they could set the sentiment for the comdolls and the Greenback.

See also:

London Session Recap

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