Article Highlights

  • US headline CPI at 0.3% as expected, core CPI at 0.1% as expected
  • US initial jobless claims at 326K vs. 328K expected
  • US Philly Fed index at 9.4 vs. 8.7 estimates
  • US NAHB housing survey at 56 vs. 58 estimates
  • SNB’s Jordan says there’s no reason to abandon CHF cap
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Broad risk aversion, slight equities weakness, and mixed US data dragged on the Greenback early in the U.S. session. EUR/USD and GBP/USD popped up by around 20 pips while USD/JPY retested the 104.00 handle.

The move wasn’t sustained though, as there were no other major catalysts to move the currencies. EUR/USD and GBP/USD remained near their session open levels while dollar pairs (USD/JPY and USD/CHF) as well as comdoll pairs (AUD/USD, USD/CAD, and NZD/USD) all showed slight USD weakness.

Will the tides change for the Greenback today? We only have Japan’s consumer confidence data due at 5:00 am GMT. The report doesn’t usually move the yen pairs much so you might want to focus on the equities markets for direction of the Asian currencies.

See also:

London Session Recap

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

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