Dollar price action was mixed as reports from Uncle Sam barely provided directional clues. In the United Kingdom, more polls indicated a narrowing lead for PM May’s party. Canadian economy grew 0.5% in March vs. 0.3% forecast Chicago PMI up from 58.3 to 59.4 vs.
Lots of fun themes were playing out during the session, with the euro and the Swissy getting buyers right from the get-go. Meanwhile, the pound finally found support after getting whupped during the earlier Asian session. As for the Loonie, it ended up as the
The pound took another hit during the Asian session as a new election poll hinted that Theresa May’s Conservative Party may get a few seats short of a majority in the Parliament. RBNZ: Financial system risks have been “reduced” in the last six months U.K.
The Greenback ticked higher upon seeing the core PCE price index but gave back its intraday gains and more throughout the session as traders turned their attention to weaker Fed rate hike odds in September. U.S. core PCE price index up 0.2% vs. projected 0.1%
The European currencies (GBP, EUR, CHF) fought for the honor of being the one currency to rule them all during the session. But in the end, there can be only one. And that happened to be the pound. Meanwhile, the yen had a repeat performance
With not a lot of catalysts during the Asian session, forex traders concentrated on weekend headlines instead. China’s banks still out on Dragon Boat Festival holiday NZ building consents down by 7.6% vs. 1.2% slip in March Japan’s household spending (y/y) declines by 1.4% vs.
There were no economic reports from Uncle Sam as traders were off enjoying the Memorial Day holiday while Draghi’s speech weighed on euro pairs a bit. ECB head Draghi: Headline inflation and wage growth have been subdued Draghi: Downside risks to growth are diminishing U.K.
ot much in terms of economic reports or market-moving news during today’s morning London session, and the U.K. is away on holiday to boot. As such, trading conditions were a bit tight during the session. Even so, it wasn’t a complete snooze fest since the euro
With not a lot of catalysts during the Asian session, forex traders concentrated on weekend headlines instead. Chinese markets out on Dragon Boat Festival holiday Major Events/Reports: GBP retraces from last week’s losses The pound gained against its major counterparts despite new election polls supporting
The forex trading week has come and gone. Time to take a look at what was driving forex price action. Were you able to profit from any of this week’s top movers? The pound got whupped hard this week while the Kiwi just shrugged off