U.S. Session Forex Recap – Apr. 27, 2015

  • US durable goods orders: 4.0% vs. 0.6% expected, last month’s data revised from -1.4% to -1.1%
  • US core durable goods orders: -0.2% vs. 0.3% expected, last month’s data revised from -0.4% to -0.6%
  • BOC’s Poloz: Impact of oil prices expected to turn positive in H2 2015
  • New Zealand on Anzac Day bank holiday

The dollar took hits across the board during the U.S. session, as forex traders priced in disappointing data from Uncle Sam.

With no other major news on tap, investors turned their attention to the U.S. durable goods orders data. The report revealed a 4.0% increase in its headline numbers but showed weakness when you take out volatile items such as the 34.1% jump in civilian aircraft orders and the 17% increase in defense goods. What’s more, February’s numbers were also revised significantly lower.

USD/JPY dropped by 64 pips (-0.54%) to 118.87 while GBP/USD also inched 60 pips higher (+0.40%) to 1.5180 and USD/CHF stayed near its intraday lows just above .9500.

Comdoll price action was a bit more mixed with Aussie and Kiwi traders taking advantage of Greenback weakness with AUD/USD and NZD/USD popping up by 35 pips (+0.45%) and (0.46%) to .7826 and .7601 respectively. The Loonie, which was weighed by lower oil prices, dropped by 52 pips against the dollar.

The euro also had a mixed trading session as traders took in the lack of progress over Greece’s debt drama. EUR/USD took advantage with a 35-pip gain (+0.32%) to 1.0868 while EUR/CHF inched 27 pips higher (+0.26%) to 1.0364. Yen and pound traders didn’t care for the disappointment though, as they dragged EUR/JPY 27 pips lower (-0.21%) to 129.18 while EUR/GBP slipped by 6 pips (-0.7159) to .7159.

Will we see more Greenback weakness this week? Asian session forex traders don’t have much to look forward to with New Zealand on a bank holiday and there’s no major news on tap. Instead, keep your eyes on possible continuation of last Friday’s price action or any news that might affect risk taking.

Good luck!

See also:

London Session Recap

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