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18 Jun 2013
Session Recap: The USD advances but the Euro resists
FXstreet.com (San Francisco) - Tuesday was a positive day for the USD as the Greenback rose against almost all its competitors except the Euro.
In a choppy day, market was focused on the Federal Reserve's 2-day meeting that will finish on Wednesday with the central bank’s economic outlook. Market players are hoping that the FOMC will provide with hints about what they will do in the short and middle term.
The EUR/USD advanced to trade above the 1.3400 area for first time since February 20 and currently the pair is closing the day around 1.3395. The movement was supported on the crosses today as EUR/GBP (+0.73%) and EUR/JPY (+1.20%) advanced as well.
Except the Euro, the Greenback advanced against almost all its competitors as investor's confidence was fueled on good economic data. Stocks rallied. The GBP/USD declined to price below the 1.5600 area and after recovering ground it is trading around 1.5640. The USD/JPY jumped to trade a mid 95.00 and the USD/CAD conquered the 1.0200 zone.
Main headlines in the American session:
US: CPI rose 1.4% in May
US: Building Permits dropped to 974K in May
EU’s Rehn says it’s vital that EZ fin mins agree the principles of direct bank recapitalization
Cyprus calls for bailout redesign to avoid country's collapse
Fitch affirms Switzerland at AAA, outlook stable
Wall Street rallies and awaits for the Fed decision
In a choppy day, market was focused on the Federal Reserve's 2-day meeting that will finish on Wednesday with the central bank’s economic outlook. Market players are hoping that the FOMC will provide with hints about what they will do in the short and middle term.
The EUR/USD advanced to trade above the 1.3400 area for first time since February 20 and currently the pair is closing the day around 1.3395. The movement was supported on the crosses today as EUR/GBP (+0.73%) and EUR/JPY (+1.20%) advanced as well.
Except the Euro, the Greenback advanced against almost all its competitors as investor's confidence was fueled on good economic data. Stocks rallied. The GBP/USD declined to price below the 1.5600 area and after recovering ground it is trading around 1.5640. The USD/JPY jumped to trade a mid 95.00 and the USD/CAD conquered the 1.0200 zone.
Main headlines in the American session:
US: CPI rose 1.4% in May
US: Building Permits dropped to 974K in May
EU’s Rehn says it’s vital that EZ fin mins agree the principles of direct bank recapitalization
Cyprus calls for bailout redesign to avoid country's collapse
Fitch affirms Switzerland at AAA, outlook stable
Wall Street rallies and awaits for the Fed decision