U.S. Session Forex Recap – June 10, 2015

  • US JOLTS job openings: 5.38M vs. 5.03M expected, 5.11M previous
  • US wholesale inventories: 0.4% vs. 0.2% expected, 0.2% previous
  • US EIA oil stocks hits 43-year high
  • Oil and gold prices finish the day higher
  • Japan core machinery orders, AU Westpac consumer sentiment scheduled today

Forex trading was a mixed bag of nuts as a lack of tier 1 reports pulled the major currencies in different directions.

EUR/USD managed to find support at the 1.1225 area and finished the session 34 pips higher (+0.30%) than its open price while EUR/JPY jumped by 69 pips (+50%) to 140.21. If you recall, the common currency had taken hits from higher German bond prices and uncertainty over a possible Greek deal in early London trading.

The pound was also a mover after the U.K. trade balance numbers came out better-than-expected. Market reaction was delayed but the U.K. currency gained 80 pips (+0.52%) on the dollar, 135 pips (+0.71%) on the yen, and 148 pips (+0.75%) on the Aussie throughout the session. Cool beans!

Even the dollar gained a few pips. Though it lost against its European counterparts, USD/JPY ended the session 24 pips higher (0.20%) than its open price while USD/CHF inched 2 pips higher (0.02%) to .9311.

The dollar wasn’t as lucky against the comdolls. Thanks to higher gold and oil prices and a bit of risk-taking in the markets, AUD/USD rose by 17 pips (+0.22%) to .7684 and NZD/USD inched 18 pips higher (+0.25%) to .7137.

The Loonie bulls were particularly active especially when oil prices rocketed by 3% to a $60.35 per barrel high before levelling off to a slightly lower closing price. USD/CAD dropped by 55 pips (-0.46%) to an intraday low of 1.2308 before closing at 1.2346. Meanwhile, CAD/JPY rose by 33 topips (+0.33%) to 100.73.

Let’s see if we can get more volatility today. Asian session forex traders have quite a few reports on the docket starting with Japan’s core machinery orders reports which came out better-than-expected. The yen pairs haven’t shown any significant reaction though, so keep an eye out for any pops in volatility over the next couple of hours.

Next up is Australia’s Westpac consumer confidence report at 12:30 am GMT. The report showed a whopping 6.4% gain last month after a back-to-back monthly declines. A reading higher than last month’s 6.4% growth could erase some of the weight from China’s weak inflation data earlier this week.

Good luck and good trading!

See also:

London Session Recap

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