23 May 2014
Session Recap: USD shows strenght, CAD leads again
FXStreet (Córdoba) - Friday was another quiet and low volume US session ahead of a long weekend. The Canadian dollar was the best performer and rose sharply across the board, adding to Thursday’s gains. Stocks rose in Europe and in Wall Street but Greenback showed strength and consolidated gains versus European currencies.
Over the week the US dollar was among the best performers, with the Loonie and the Pound. But Cable finished on a weak tone, retreating across the board and moving away from highs. The GBP/USD closed Friday around 1.6825, after falling for the second day in a row.
The Swissy was the best performer on Friday among European currencies but the USD/CHF rose again, reaching fresh multi--month highs and closed the week above 0.8950. The EUR/USD fell further approaching 1.3600; the Euro finished below 1.3650 posting the lowest daily close since February 12 against Greenback.
The Yen weakened across the board and pulled back erasing weekly gains. The USD/JPY ended trading barely below 102.00, at weekly highs, showing strength after bottoming on Wednesday at 100.80.
The Canadian dollar soared in the market on the back of inflation data from Canada. The USD/CAD dropped below 1.0900 and bottomed at 1.0860. The NZD/CAD and AUD/CAD dropped to fresh multi-month lows. The Kiwi and the Aussie moved in ranges against the US dollar on Friday holding above important support levels.
Crude oil ended the week with a gain of more than 2%, closing on Friday above $104. Gold continued to move sideways and fell moderately, ending above $1,290 an ounce.
Economic data for Friday in the US included new home sales that rose 6.4% seasonally adjusted to an an annual rate of 433,000 in April surpassing expectations of an increase to 425,00. On Monday there won’t be new economic information for the US and Wall Street will be closed for Memorial Day.
Main headlines in the American session
EUR/USD bearish technical’s - TD Securities
USD/JPY teed up for a break of 102?
US stocks end week with gains and record
AUD/USD flat but longer term picture is bearish
USD/CAD extends decline below 1.0900
EUR/USD on autopilot around 1.3630
GBP/USD losing grip and facing downward pressures
Over the week the US dollar was among the best performers, with the Loonie and the Pound. But Cable finished on a weak tone, retreating across the board and moving away from highs. The GBP/USD closed Friday around 1.6825, after falling for the second day in a row.
The Swissy was the best performer on Friday among European currencies but the USD/CHF rose again, reaching fresh multi--month highs and closed the week above 0.8950. The EUR/USD fell further approaching 1.3600; the Euro finished below 1.3650 posting the lowest daily close since February 12 against Greenback.
The Yen weakened across the board and pulled back erasing weekly gains. The USD/JPY ended trading barely below 102.00, at weekly highs, showing strength after bottoming on Wednesday at 100.80.
The Canadian dollar soared in the market on the back of inflation data from Canada. The USD/CAD dropped below 1.0900 and bottomed at 1.0860. The NZD/CAD and AUD/CAD dropped to fresh multi-month lows. The Kiwi and the Aussie moved in ranges against the US dollar on Friday holding above important support levels.
Crude oil ended the week with a gain of more than 2%, closing on Friday above $104. Gold continued to move sideways and fell moderately, ending above $1,290 an ounce.
Economic data for Friday in the US included new home sales that rose 6.4% seasonally adjusted to an an annual rate of 433,000 in April surpassing expectations of an increase to 425,00. On Monday there won’t be new economic information for the US and Wall Street will be closed for Memorial Day.
Main headlines in the American session
EUR/USD bearish technical’s - TD Securities
USD/JPY teed up for a break of 102?
US stocks end week with gains and record
AUD/USD flat but longer term picture is bearish
USD/CAD extends decline below 1.0900
EUR/USD on autopilot around 1.3630
GBP/USD losing grip and facing downward pressures