U.S. Session Recap – July 7, 2014

  • U.S. banks on holiday for Independence Day

With U.S. traders out for their Independence Day holiday and there’s a lack of major reports on tap, it’s not surprising to see the major currencies stay in tight ranges during the U.S. forex trading session.

The dollar lost a few pips against its counterparts. Though USD/JPY remained in a tight range near 102.00, GBP/USD rose by another 17 pips to 1.7157 throughout the session while EUR/USD also inched 2 pips higher at 1.3593.

The comdolls were also all over the charts. AUD/USD gained 12 pips at .9364 but NZD/USD stayed at around .8743 while USD/CAD shot up by 21 pips to 1.0657.

Let’s hope that the Asian session traders are ready and fired up to start a brand new trading week! A few hours ago we saw Australia’s AIG construction index and ANZ job ads come in better than market expectations. Surprisingly, AUD/USD FELL a couple of pips at the reports’ release.

The only other major report during the Asian session is Japan’s leading indicators numbers at 5:00 am GMT. Will we see more comdoll weakness for the rest of the day?

See also:

London Session Recap

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