U.S. Session Recap – April 3, 2014

  • U.S. ADP report clocks in at 191K vs. 195K expected (last month’s data revised from 139K to 178K)
  • U.S. factory orders rises by 1.6% vs. 1.2% uptick expected (last month’s data revised from -0.7% to -1.0%).

The Greenback was king of pips in yesterday’s U.S. session trading as Uncle Sam’s reports hinted at a strong NFP release on Friday. Heck, investors even shrugged off the weak factory orders report in their optimism! EUR/USD was pushed to the 1.3750 area while GBP/USD tested its intraweek lows. Even USD/JPY is getting attention as it’s already near the 104.00 and 105.00 psychological zones.

Comdoll price action wasn’t as exciting as other pairs though. AUD/USD, USD/CAD, and NZD/USD mostly stayed in their London session levels after getting hit hard in the Asian session.

Today’s a big day for the major currencies and not just because the BOE and ECB will release their monetary policy decisions. Just minutes ago Australia had printed a weaker-than-expected retail sales report and a stronger-than-expected trade balance data. China had also released its services PMI, which came in slightly weaker than last month.

The day’s just getting started! RBA Governor Glenn Stevens still has a speech scheduled at 2:00 am GMT. Keep an eye out for remarks about the Aussie’s strength and Stevens’ opinions on economic recovery.

Good luck and good trading, forex junkies!

See also:

London Session Recap

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

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