U.S. Session Recap – March 18, 2014

  • US industrial production 06% vs. 0.2% expected
  • US NAHB housing market index at 47.0 vs. 50.0 expected
  • Risk appetite continues to weigh on the dollar

A lack of major reports influenced the high-yielding currencies to continue their intraday moves against the dollar. EUR/USD visited the 1.3950 region while GBP/USD also popped up to the 1.6650 psychological area. Of course, it didn’t help the Greenback that tier 2 reports from Uncle Sam either missed expectations or showed downward revisions.

The comdolls also got a piece of the action with AUD/USD, USD/CAD, and NZD/USD showing dollar weakness by around 20-30 pips. I guess comdoll traders aren’t too affected by China’s decision to double the yuan’s trading band!

Will we see a more active trading session today? The RBA had just released its monetary policy meeting minutes and so far it’s not doing AUD/USD any favors. No other major data is scheduled for release for the rest of the Asian session so you might want to keep close tabs on the Nikkei, China, and reports on Crimea in case they move the markets!

See also:

London Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!