- 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
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.
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!