- US initial jobless claims 312K vs. 313K expected and 318K previous
- US leading indicators 0.5% in May vs. 0.6% expected
- US Philly Fed index clocks in at 17.8 in June vs. 14 expected and 15.4 previous
The dollar’s performance was a mixed bag of beans during the U.S. forex trading session as traders priced in their disappointment over the Fed’s underwhelming statement, a bit of risk aversion in the markets, and a few better-than-expected U.S. data.
EUR/USD tried to reach new weekly highs but encountered resistance at the 1.3650 area. It eventually closed 15 pips lower than its session open price. USD/JPY also started the session with a 15-pip drop to the 101.80 area but eventually ended the day back at the 102.00 psychological handle.
The pound continued to dominate the forex arena despite a slightly lower-than-expected retail sales report. Analysts believe that a bit of weakness is due after such a strong run and weren’t too concerned over the 0.5% monthly drop in consumer spending.
GBP/USD broke above 1.7000 and reached 1.7063 before settling in with a 7-pip session gain at 1.7036. Meanwhile, GBP/JPY steadily crawled 25 pips higher to 173.71.
Not even the comdolls were safe from a bit of risk aversion during the trading session. Gold and crude oil prices might have edged higher, but AUD/USD still ended the session with a 10-pip slip to .9396 while USD/CAD remained around the 1.0830 levels.
We don’t have a lot of Asian reports scheduled today save for BOJ Governor Kuroda’s speech scheduled at 6:30 am GMT. Market players aren’t expecting any bombshells from the central banker today, but keep your eyes peeled in case we see surprises!
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!