U.S. Session Recap – July 30, 2014

  • US S&P Case-Shiller home prices: 9.3% vs. 10% expected and 10.8% previous
  • US consumer confidence: 90.9 vs. 85.5 expected and 86.4 previous

The Greenback dominated the US trading session as traders priced in mixed economic reports, hawkish FOMC statement expectations, and a bit of risk aversion in the markets.

The prospect of additional sanctions against Russian banks kept a lid on the euro’s gains and dragged EUR/USD 23 pips lower to 1.3409. GBP/USD also fell to the 1.6940 area as the UK’s mixed housing numbers continued to weigh on the pound. Meanwhile, expectations of more tapering from the Fed and a bit of risk aversion in the markets helped USD/CHF jump by 23 pips to .9069 and supported USD/JPY above the 102.00 handle.

The comdoll bears also pounced on the overall Greenback strength. USD/CAD popped 47 pips higher to 1.0859 despite a lack of Canadian reports scheduled during the US forex trading session. AUD/USD and NZD/USD, already weakened by news from the Asian trading session, fell by another 12 and 20 pips respectively.

Will the comdoll bulls get some of their pips back today? A couple of hours ago we saw New Zealand’s building consents data come in better-than-expected with a 3.5% growth against a 4.4% decline from last month. On the other hand, Japan’s preliminary industrial production data printed a 3.3% decline after growing by 0.7% last month.

No other reports are scheduled until the early London session trading, so you might want to keep your eyes peeled for any delayed investor reaction to these news!

See also:

London Session Recap

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