U.S. Session Forex Recap – Nov. 14, 2014

  • CA house price index up by 0.1% in September vs. 0.2% uptick expected, 0.3% previous
  • US initial jobless claims at 290K vs. 280K expected, 278K previous
  • US September JOLTS job openings at 4.74M vs. 4.81M expected, 4.85M previous
  • Oil drops to its four-year low

The Greenback’s price action was a mixed bag of nuts, as traders priced in non-dollar-related forex headlines.

GBP/USD continued to take a beating with its 32-pip decline to 1.5711 thanks to the BOE downgrading its inflation forecasts and Mark Carney hinting that a rate hike would be pushed back from H1 to H2 2015. GBP/JPY also slipped by another 6 pips to 181.88 while EUR/GBP shot up by 30 pips to .7943.

EUR/GBP’s strength was probably why the euro also strengthened across the board. There were no major headlines from the euro zone, but EUR/USD shot up by 22 pips to 1.2479 and EUR/JPY climbed by 50 pips to 144.46.

The comdolls weren’t as lucky as its European counterparts. Thanks to falling gold and oil prices and a bit of profit-taking from their intraday rallies, AUD/USD was sent back down from its .8765 intraday highs to its .8716 closing price, while NZD/USD slipped by 18 pips to .7888.

The Loonie was one of the biggest losers after oil fell to its four-year lows and Canada’s house price index missed its market expectations. USD/CAD jumped by 57 pips to 1.1376 while CAD/JPY trickled 32 pips lower to 101.78. Heck, even EUR/CAD popped 94 pips higher to 1.4194!

Let’s see if forex traders can get more comdoll action today. Forex calendars aren’t showing any scheduled major reports during the Asian session, so we might not see a repeat of yesterday’s volatile trading. Still, watch the news wires closely in case Asian session traders decide to extend the U.S. session’s price moves or if they price in a new catalyst today.

Good luck!

See also:

London Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!