- World Bank cuts global growth forecasts
- US JOLTS job openings prints at 4.46M vs. 4.02M expected and 4.01M previous
- US wholesale inventories up by 1.1% vs. 0.5% expected
- Gold hits its two-week high
With the European traders back from Whit Monday, you just know that you’re gonna see some action!
The euro received triple roundhouse kicks against its counterparts as traders priced in the ECB’s new stimulus measures last week. It didn’t help that peripheral bond yields inched higher on the release of slightly disappointing European data.
EUR/USD made new intraday lows before ending the session unchanged but EUR/GBP had stayed near its 18-month lows at .8086. Even EUR/JPY saw a drop to 138.45 before ending the day at 138.61, 72 pips lower than its open price.
The dollar was a favorite among market players especially after the JOLTS job openings, a report closely watched by Fed Governor Janet Yellen, blasted above expectations and hit its highest levels in SEVEN years.
USD/JPY recovered from 102.21 to 102.43 in an hour and closed just slightly higher than its session open price while USD/CHF remained at its tight range just below .9000.
Comdolls like the Aussie, Loonie, and Kiwi put up a close fight against the Greenback. Rising commodity prices and a bit of short covering pushed AUD/USD and NZD/USD higher and USD/CAD lower but a positive US JOLTS job openings report soon dragged the comdolls back to their session open prices.
Will we see more action from the comdolls today? Aside from Australia’s Westpac consumer sentiment (which came in better-than-expected), no other major data is scheduled for release during the Asian session. Watch out for any news that might affect risk sentiment over the next couple of hours!
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!