- US flash manufacturing PMI clocks in a 57.5 reading vs. 56.0 expected and 56.4 previous
- US existing home sales shows 4.89 million sales in May vs. 4.74 million expected
The major currencies were all over the charts during the U.S. trading session as the lack of market-moving news reports inspired mixed trading.
Better-than-expected manufacturing and existing home sales reports boosted the Greenback for a while, but it soon gave up pips to the euro, pound, yen, and the franc as investors realized that the reports won’t change the Fed’s wait-and-see stance.
EUR/USD found support at the 1.3580 area before closing the session with a 10-pip uptick to 1.3603 while the closely-watched GBP/USD bounced from 1.7008 to 1.7028. Even USD/CHF closed at .8942 after hitting a session high at .8959.
The comdolls weren’t as fortunate against the dollar. After rising strongly on the back of positive Chinese data, AUD/USD slipped by 20 pips to .9417 while NZD/USD gave up 17 pips at .8713.
No reports are scheduled during the Asian trading session save for China’s CB leading index out at 2:00 am GMT. A reading higher than last month’s 0.9% growth could add to the comdolls’ gains yesterday. Also keep your eye on Nikkei as well as other Asian markets in case they dictate risk sentiment throughout the trading session.
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!