U.S. Session Recap – August 13, 2014

  • US JOLTS job openings: 4.67M vs. 474M expected and 4.58M last month
  • US Fed budget balance shows 94.6 billion USD deficit 3% lower than last year
  • JP preliminary GDP and BOJ meeting minutes on tap

US session traders erased some or most of the Asian and early European price action as they prepare for the major reports ahead.

Mixed headlines of Putin meeting with military officials in Crimea and launching humanitarian efforts helped the euro recover from its intraday lows, with EUR/USD jumping 24 pips to 1.3367 and EUR/JPY rising by 20 pips to 136.65.

Pound bears also lightened their positions ahead of the BOE’s inflation hearings. GBP/USD rocketed by 40 pips to 1.6812 throughout the session while GBP/JPY also rose by 34 pips to 171.86 and GBP/NZD ticked 18 pips higher to 1.9921.

Even the comdolls scored a few pips on the Greenback. Thanks to possible positioning ahead of Japan’s GDP readings or China’s industrial production and retail sales numbers, the Aussie, Loonie, and Kiwi all locked in gains against the dollar.

AUD/USD inched 6 pips higher to .9276, USD/CAD slipped by 26 pips to 1.0923, and NZD/USD climbed 12 pips to .8439.

Will we see more volatile price action from the comdolls today? A couple of hours ago Japan had already printed its preliminary GDP numbers. The economy fell by 1.7% in Q2 2014, which is just above the 1.8% decline that market players had been expecting.

The Asian session isn’t over yet though! At 5:30 am GMT China will release its industrial production and retail sales reports. Analysts are expecting a 12.5% growth in July and extend the report’s steady climb from 11.8% since February. Meanwhile, industrial production is expected to show a 9.2% growth similar to June’s numbers.

These reports could affect risk sentiment for the rest of the day, so make sure you keep your eyes peeled for game-changing details!

See also:

London Session Recap

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