28 May 2014
Session Recap: USD firmer, GBP underperforms again
FXStreet (Córdoba) - The dollar trades mostly firmer against majors, although outperformed by the yen. European data was broadly disappointing which weighed on the euro.
The GBP/USD fell to 1.6745, its lowest in nearly 2 weeks, and is threatening its May 15 low of 1.6732. The pound has been on the back foot lately amid deteriorating UK economic data. The Cable is posting its second daily decline this week after being unable to hold above 1.6900.
The EUR/USD touched a daily low of 1.3615 following higher than expected German unemployment figures, but managed to bounce ahead of the 2 ½-month low scored the previous day at 1.3611. The USD/JPY is a tad lower around 101.90 after failing once again to consolidate above 102.00.
Stock markets across Europe are broadly from unchanged to slightly higher after a negative opening, while US futures point for a higher opening. Gold steadies around $1265/oz after yesterday’s slump, while crude oil is back above $104.00 a barrel.
There is little on the data calendar for the rest of the day. Tomorrow the US will release its second estimate of Q1 GDP, widely expected to to be revised lower from the initial 0.1% rise.
Main Headlines in Europe:
Switzerland: Annual GDP rises 2% in Q1
Asia EM Express: Investor confidence boosted by improving Chinese data
Germany: Unemployment Rate unchanged at 6.7% in May
European stocks open lower after 5 days of gains
European Monetary Union Economic Sentiment Indicator above expectations (102.2) in May: Actual (102.7)
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Germany 30-y Bond Auction: 2.25% vs previous 2.53%
ECB's Mersch: All three rates could be cut next week
The GBP/USD fell to 1.6745, its lowest in nearly 2 weeks, and is threatening its May 15 low of 1.6732. The pound has been on the back foot lately amid deteriorating UK economic data. The Cable is posting its second daily decline this week after being unable to hold above 1.6900.
The EUR/USD touched a daily low of 1.3615 following higher than expected German unemployment figures, but managed to bounce ahead of the 2 ½-month low scored the previous day at 1.3611. The USD/JPY is a tad lower around 101.90 after failing once again to consolidate above 102.00.
Stock markets across Europe are broadly from unchanged to slightly higher after a negative opening, while US futures point for a higher opening. Gold steadies around $1265/oz after yesterday’s slump, while crude oil is back above $104.00 a barrel.
There is little on the data calendar for the rest of the day. Tomorrow the US will release its second estimate of Q1 GDP, widely expected to to be revised lower from the initial 0.1% rise.
Main Headlines in Europe:
Switzerland: Annual GDP rises 2% in Q1
Asia EM Express: Investor confidence boosted by improving Chinese data
Germany: Unemployment Rate unchanged at 6.7% in May
European stocks open lower after 5 days of gains
European Monetary Union Economic Sentiment Indicator above expectations (102.2) in May: Actual (102.7)
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Germany 30-y Bond Auction: 2.25% vs previous 2.53%
ECB's Mersch: All three rates could be cut next week