2 Feb 2015
Session Recap: USD mixed, RBA in focus
FXStreet (Córdoba) - Another uneventful session in America saw majors pairs wavering within recent ranges as investors take a breather ahead of the next key event, namely the non-farm payrolls on Friday.
US data came in mostly in line with expectations, but the more important ISM manufacturing PMI showed deceleration in the sector in January (53.5 from 55.5 prev). Meanwhile, separated data showed Americans cut their spending in December and construction spending rose less than anticipated.
Despite soft data, US stocks managed to hold onto gains as oil recovery lent some support.
In the FX market, the pound and the Swissy were among the worst performers while commodity currencies accomplished some gains. Signs that the SNB has been intervening to weaken the franc, sent EUR/CHF and USD/CHF to 2-week highs.
EUR/USD managed to climb back above 1.3100 while USD/JPY recovered from lows to trade positively on the day around 117.60. GBP/USD failed to regain the 1.51 mark and was confined to a lower range over the last hours.
Now all attention turns to the Reserve Bank of Australia that will decide on monetary policy. Investors have been increasing bets the RBA will cut interest rates, while a dovish statement is taken for granted.
Main Headlines in America:
US personal income increases 0.3 percent
Canada RBC Manufacturing PMI declined to 51 in January from previous 53.9
US Jobs report preview – Danske
RBA coming up; What will the out come be? - ING
US manufacturing activity slows in January
US stocks closed at highs as Varoufakis hints Greece's solution could be solved soon
US data came in mostly in line with expectations, but the more important ISM manufacturing PMI showed deceleration in the sector in January (53.5 from 55.5 prev). Meanwhile, separated data showed Americans cut their spending in December and construction spending rose less than anticipated.
Despite soft data, US stocks managed to hold onto gains as oil recovery lent some support.
In the FX market, the pound and the Swissy were among the worst performers while commodity currencies accomplished some gains. Signs that the SNB has been intervening to weaken the franc, sent EUR/CHF and USD/CHF to 2-week highs.
EUR/USD managed to climb back above 1.3100 while USD/JPY recovered from lows to trade positively on the day around 117.60. GBP/USD failed to regain the 1.51 mark and was confined to a lower range over the last hours.
Now all attention turns to the Reserve Bank of Australia that will decide on monetary policy. Investors have been increasing bets the RBA will cut interest rates, while a dovish statement is taken for granted.
Main Headlines in America:
US personal income increases 0.3 percent
Canada RBC Manufacturing PMI declined to 51 in January from previous 53.9
US Jobs report preview – Danske
RBA coming up; What will the out come be? - ING
US manufacturing activity slows in January
US stocks closed at highs as Varoufakis hints Greece's solution could be solved soon