U.S. Session Forex Recap – June 26, 2015

  • US initial jobless claims: 271K vs. 273K expected, 268K previous
  • US personal income: 0.5% as expected and previous
  • US personal spending: 0.9% vs. 0.7% expected, 0.1% previous
  • US flash services PMI: 54.8 in June vs. 56.5 expected, 56.2 in May
  • US core PCE price index: 0.1% as expected and previous
  • NZ trade balance shows 350M NZD surplus vs. 100M NZD deficit expected and 123M NZD surplus last month

Ho-hum. Forex price action was tight during yesterday’s U.S. session trading, as investors wait for new headlines concerning Greece.

For those who are tuned in to Greece’s debt drama, you should know that, despite the countless headlines and rumors published, there were no real developments made between Greece and its creditors. Some more popular news bits included Tsipras threatening to quit his Syriza party and Greece’s creditors submitting their final proposal for the Greek government to consider.

The euro didn’t favor any clear direction, probably because both the bulls and bears are waiting for more substantial developments before they place their bets.

EUR/USD stayed just above the 1.1200 area, while EUR/JPY remained locked below the 138.50 level. Ditto for EUR/GBP, which was glued to the .7120 area.

The dollar also had a subdued price action though it lost a few pips despite the release of slightly better-than-expected data from Uncle Sam.

USD/JPY got stuck at the 123.50 area but GBP/USD inched 6 pips higher (+0.04%) to 1.5737 and USD/CHF fell by 23 pips (-0.25%) to .9371.

Even the comdolls gained a couple on the Greenback. Both gold and oil prices showed weaknesses yesterday but AUD/USD and NZD/USD both managed to stay mostly unchanged throughout the session while USD/CAD actually dipped by 53 pips (-0.43%) to 1.2324.

Let’s see if Asian session forex traders are in the mood to move the major currencies around today. New Zealand has fired the first salvo with its better-than-expected trade data. If you missed the move though, then you can trade Japan’s data dump scheduled today.

We’re expecting the Land of the Rising Sun’s unemployment rate at 11:30 pm GMT, together with the real household spending data and national and Tokyo’s inflation reports. Market players are generally expecting better numbers than last month, but keep an eye out for any surprises that might affect risk sentiment.

Good luck!

See also:

London Session Recap

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