U.S. Session Recap – December 4, 2013

  • U.S. IDB/TIPP economic optimism index improved to 43.1
  • Australian GDP at 0.6% vs. 0.7% estimate for Q3 2013

The Greenback crept lower against most of its major counterparts in the recent New York trading session, thanks to the lack of top-tier reports then. U.S. IDB/TIPP economic optimism improved from 41.4 to 43.1, slightly lower than the 43.2 consensus, while total vehicle sales came in better than expected.

Earlier today, Australia reported a weaker than expected GDP reading of 0.6% for the third quarter of the year, lower than the projected 0.7% growth figure. The good news though was that the previous quarter’s reading was revised up from 0.6% to 0.7%, preventing the Aussie from selling off sharply.

At the moment, the Nikkei stock index is trading lower, hinting at potential losses for the positively correlated USD/JPY and the rest of the yen pairs. There are no other reports due for today’s Tokyo session so price action could mostly rely on risk sentiment and Asian equity markets’ performance.

See also:

London Session Recap

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