26 Mar 2014
Session Recap: Choppy USD day; EUR/USD on the up while the GBP/USD on the downside
FXStreet (San Francisco) - Choppy day in the currency market with the USD advancing against the Euro but declining versus the Sterling. US Stocks performed early gains in the session amid stronger than expected Durable Goods Orders; but it turned negative by mid-session after an Obama speech that warned Russia for further sanctions.
Late in the day, the Federal Reserve published its Comprehensive Capital Analysis and Review report. The stress test approved capital plans for 25 out of 30 banks; however, the Fed objected plans for Citigroup, Zion Bancorp and the US units of HSBC, Santander and RBS.
The EUR/USD declined for second day as the pair lost the 1.3800 level and it closed at 1.3780. "Buyers are still waiting around 1.3750 in case of further dips, with the pair mostly confined to range until next week ECB meeting," comments Valeria Bednarik from FXStreet.
On the other hand, the GBP/USD advanced for third day to reach 1-week highs around 1.6595; pair closed at 1.6575. The USD/JPY declined on Wednesday; however it remained inside the weekly range. The cross priced at 1-week lows around 101.85 but it recovered the 102.00 level where it closed.
American session's main headlines
US: Durable Good Orders (Feb) rose 2.2%
March US Markit services PMI final 55.5 vs 54.0 exp
Obama's speech in Brussels: US authorizes more exports of gas to the EU
Obama: Sanctions will increase unless Russia changes course
Wall Street declines on fears about Russia conflict
FED approves capital plans for 25 banks, rejects Citigroup’s
Late in the day, the Federal Reserve published its Comprehensive Capital Analysis and Review report. The stress test approved capital plans for 25 out of 30 banks; however, the Fed objected plans for Citigroup, Zion Bancorp and the US units of HSBC, Santander and RBS.
The EUR/USD declined for second day as the pair lost the 1.3800 level and it closed at 1.3780. "Buyers are still waiting around 1.3750 in case of further dips, with the pair mostly confined to range until next week ECB meeting," comments Valeria Bednarik from FXStreet.
On the other hand, the GBP/USD advanced for third day to reach 1-week highs around 1.6595; pair closed at 1.6575. The USD/JPY declined on Wednesday; however it remained inside the weekly range. The cross priced at 1-week lows around 101.85 but it recovered the 102.00 level where it closed.
American session's main headlines
US: Durable Good Orders (Feb) rose 2.2%
March US Markit services PMI final 55.5 vs 54.0 exp
Obama's speech in Brussels: US authorizes more exports of gas to the EU
Obama: Sanctions will increase unless Russia changes course
Wall Street declines on fears about Russia conflict
FED approves capital plans for 25 banks, rejects Citigroup’s