- CA wholesale sales shows 1.1% growth vs. 0.7% uptick expected
- US Richmond mfg index clocks in an index reading of 7 vs. -7 last month
- US FHFA house price index up by 0.6% vs. 0.5% expected
- EZ consumer confidence index prints at -9 as expected
- US existing home sales hit 1.5-year low
The U.S. session traders said “not today!” to volatility junkies as they failed to follow up on the burst of activity during the London session. Only EUR/USD showed interesting price action when it erased all of its London session gains two hours after the U.S. session started.
Major currency pairs mostly traded on tight ranges although the dollar did come out on top against its counterparts.
Better-than-expected manufacturing and mixed housing numbers as well as positive U.S. equities performance boosted USD/JPY by all of 10 pips from the 102.50 support while USD/CHF popped 30 pips higher than its session open price.
AUD/USD and NZD/USD also dipped to the tune of 20 pips after the U.S. reports were released. USD/CAD even fell by 40 pips despite a positive wholesale sales reading from Canada.
Over the next couple of hours we’ll see how traders react to today’s tier 1 reports. Word on the hood is that Australia’s inflation numbers missed analyst expectations while China’s HSBC manufacturing PMI barely met investor estimates. But more on those later. For now look for possible comdoll weakness and maybe one-directional trading until a new report is printed.
Good luck and good trading!
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!