U.S. Session Recap – August 15, 2014

  • German bund yields slips below 1% for the first time
  • US initial jobless claims: 311K vs. 295K expected and 290K previous
  • US import prices: -0.2% vs. -0.3% expected and 0.1% growth last month
  • CA New Housing Price Index up by 0.2% as expected
  • US 10-year Treasury yields dips below 2.4% ahead of bond auction

Currency price action was as exciting as watching water boil as forex pairs stayed on tight ranges.

A higher-than-expected initial jobless claims report weighed on the dollar in the early US session, but the Greenback soon found support ahead of a 30-year US Treasury auction. Of course, it also didn’t hurt that US equities had a healthy trading day.

EUR/USD by 22 pips to its 1.3409 intraday high before closing at 1.3369, while USD/JPY dipped to an intraday low of 102.31 before ending the day at 102.44. Even USD/CHF slipped to a low of .9035 before it closed right at its .9064 session open price.

It was the comdolls that had a more interesting trading session against the dollar. AUD/USD might have stayed within the .9320 area, but USD/CAD had jumped from 1.0895 to 1.0917 before closing at 1.0904. Meanwhile, the Kiwi continued to find support from a strong NZ retail sales report, as NZD/USD fell by another 12 pips to .8486.

We don’t have any major economic report scheduled during the Asian session, so watch out for even tighter ranges among comdoll pairs. Of course, you should also watch your news wires closely for any market-moving report!

See also:

London Session Recap

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