16 Apr 2014
Session market: Too much noise but the EUR/USD remains impassive
FXStreet (San Francisco) - Tuesday was a busy day for fundamental journalists but not that all for traders as pairs remained inside its ranges despite many headlines.
In the US, the inflation beat consensus while the Empire State manufacturing index and NAHB were disappointing. However corporate earnings added salt to Wall Street but Ukraine give another step into a conflict against Russia.
A hurdle of data both sides of the Atlantic that was not enough to triggered the so long awaited trend in the EUR/USD, that declined for third day with the pair pricing briefly at sub-1-38 levels. However the pair managed to recover ground and it closed around 1.3812.
"With the weekly opening gap still unfilled, and buyers waiting on the 1.3780 area, the pair seems pretty well limited to the downside," commented FXStreet cheif analyst Valeria Bednarik. "But the daily chart shows a shooting star from Friday, followed by 2 bearish candles, and a new leg lower on Wednesday may be the third time a charm for bears."
On the other hand, as Nikkei reported the Japanese government is ready to downgrade economic outlook. The news fueled the USD/JPY to recover all previous losses. The pair collapsed from 101.90 to 101.50 amid Ukraine news, but it bounced hard to close at previous levels on Nikkei 'leaked' report.
Main headlines in the American session
US CPI rises 0.2% in March, 1.5% y/y
US NY Fed manufacturing index April 1.29 vs 8.0 exp
Fed's Yellen: US economy still recovering from the financial crisis
Canadian March existing home sales +1.0% vs +0.3% prior
United States NAHB Housing Market Index registered at 47, missing forecasts (50) in April
EMEA EM Express: Ukraine begins 'anti-terrorist' operation; central bank hikes rates to stop hryvnia decline
Japan will downgrade economic assessment in April report – Nikkei
Wall Street closes near to daily highs
In the US, the inflation beat consensus while the Empire State manufacturing index and NAHB were disappointing. However corporate earnings added salt to Wall Street but Ukraine give another step into a conflict against Russia.
A hurdle of data both sides of the Atlantic that was not enough to triggered the so long awaited trend in the EUR/USD, that declined for third day with the pair pricing briefly at sub-1-38 levels. However the pair managed to recover ground and it closed around 1.3812.
"With the weekly opening gap still unfilled, and buyers waiting on the 1.3780 area, the pair seems pretty well limited to the downside," commented FXStreet cheif analyst Valeria Bednarik. "But the daily chart shows a shooting star from Friday, followed by 2 bearish candles, and a new leg lower on Wednesday may be the third time a charm for bears."
On the other hand, as Nikkei reported the Japanese government is ready to downgrade economic outlook. The news fueled the USD/JPY to recover all previous losses. The pair collapsed from 101.90 to 101.50 amid Ukraine news, but it bounced hard to close at previous levels on Nikkei 'leaked' report.
Main headlines in the American session
US CPI rises 0.2% in March, 1.5% y/y
US NY Fed manufacturing index April 1.29 vs 8.0 exp
Fed's Yellen: US economy still recovering from the financial crisis
Canadian March existing home sales +1.0% vs +0.3% prior
United States NAHB Housing Market Index registered at 47, missing forecasts (50) in April
EMEA EM Express: Ukraine begins 'anti-terrorist' operation; central bank hikes rates to stop hryvnia decline
Japan will downgrade economic assessment in April report – Nikkei
Wall Street closes near to daily highs