18 Jul 2013
Session Recap: The Yen collapses on Abe's victory speculations
FXstreet.com (San Francisco) - The Japanese yen is trading lower across the market as recent polls have shown that PM Abe is likely to take the control of both houses in Parliament. In this line, investors are confidence the Abenomics will continue in the middle and long term in Japan.
In the US, the stocks market traded higher with the DJIA reaching a milestone with its break above the 15,000 level. However, tomorrow could be a day kind different as two giants Google and Microsoft have missed earnings expectations.
Lately in the day, Moody's rating agency has revised up its US' outlook to stable from negative and it has affirmed its Aaa sovereign rating. They said the USD's condition of reserve is the reason. Meanwhile, Detroit filled the largest city bankruptcy in the United States history.
The USD/JPY advanced to test sub 100.00 prices and currently it is closing Thursday at 100.45. The EUR/JPY advanced the most in the last seven sessions with the pair jumping to 131.70. The GBP/JPY climbed to break above the July 3 high at 153.00 and traded briefly around 153.10, highest since June 11.
The EUR/USD declined for second day and tested the 1.3065, however the pair managed to recover ground and close just above the 1.3100. The GBP/USD rose for fourth day but overall it was a consolidation day just above 1.5200.
The AUD/USD dropped below 0.9200 and after trading at intra-day lows at 0.9135, the Aussie closed at 0.9165. The gold recovered some ground from Wednesday's losses and advanced on Thursday to close at $1,282/oz.
Main headlines in the American session:
US: Initial Jobless Claims fell to 334K
Canada: Wholesale Sales rose 2.3% in May
US: Philadelphia Fed Manufacturing Survey improves in July against expectations
US: CB Leading Indicator flat in June
Bernanke clear on no rate hikes until unemployment at 6.5%
Bernanke says it’s way too early to make a call on tapering in September
Portuguese government survives no-confidence motion
Detroit files for bankruptcy
Wall Street performed historic day just before Google & MSFT big miss
Moody's: outlook on US Aaa rating back to stable from negative
In the US, the stocks market traded higher with the DJIA reaching a milestone with its break above the 15,000 level. However, tomorrow could be a day kind different as two giants Google and Microsoft have missed earnings expectations.
Lately in the day, Moody's rating agency has revised up its US' outlook to stable from negative and it has affirmed its Aaa sovereign rating. They said the USD's condition of reserve is the reason. Meanwhile, Detroit filled the largest city bankruptcy in the United States history.
The USD/JPY advanced to test sub 100.00 prices and currently it is closing Thursday at 100.45. The EUR/JPY advanced the most in the last seven sessions with the pair jumping to 131.70. The GBP/JPY climbed to break above the July 3 high at 153.00 and traded briefly around 153.10, highest since June 11.
The EUR/USD declined for second day and tested the 1.3065, however the pair managed to recover ground and close just above the 1.3100. The GBP/USD rose for fourth day but overall it was a consolidation day just above 1.5200.
The AUD/USD dropped below 0.9200 and after trading at intra-day lows at 0.9135, the Aussie closed at 0.9165. The gold recovered some ground from Wednesday's losses and advanced on Thursday to close at $1,282/oz.
Main headlines in the American session:
US: Initial Jobless Claims fell to 334K
Canada: Wholesale Sales rose 2.3% in May
US: Philadelphia Fed Manufacturing Survey improves in July against expectations
US: CB Leading Indicator flat in June
Bernanke clear on no rate hikes until unemployment at 6.5%
Bernanke says it’s way too early to make a call on tapering in September
Portuguese government survives no-confidence motion
Detroit files for bankruptcy
Wall Street performed historic day just before Google & MSFT big miss
Moody's: outlook on US Aaa rating back to stable from negative