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16 May 2014
Session Recap: Yen confirms weekly gains, US dollar mixed
FXStreet (Córdoba) - Majors moved in ranges during Friday’s American session consolidating weekly results. The Pound and the Loonie were the best performers while the Swiss Franc and the Euro fell moderately across the board. The US dollar held steady consolidating weekly gains versus European currencies ahead of a week where FOMC minutes will be released.
Housing starts in the US surged in April to 1.07 million beating expectations. The data pushed the US dollar in the market but then pulled back as stocks rose and also following the preliminary reading of the Consumer Sentiment Index from May of the University of Michigan and Thomson Reuters, that fell from 84.1 to 81.8, surprising analysts who expected a rise to 85.0.
The EUR/USD finished the week hovering around 1.3700, after being unable to rise above 1.3730 but held on top of Thursday's lows. Cable rose across the board, pushing the GBP/USD back above 1.6800, but it failed to erased weekly losses.
Commodity currencies finished slightly higher against the US dollar and practically unchanged for the week. The AUD/USD closed at daily highs on Friday around 0.9360/65 while the NZD/USD near the lows below 0.8625/30. The Canadian Dollar was among the best performers during the week. The USD/CAD ended trading at 1.0860, almost 40 pips below the price it had a week ago.
The Yen remained steady on Friday. The USD/JPY moved all day in a small range between 101.65 and 101.35; defending March and April lows. The pair ended the week with a minor loss but posting the lowest weekly close since early March. Falling US government bond yields helped the Japanese currency ahead of the Bank of Japan’s meeting.
Gold fell on Friday, and finished the week with a gain of $5, trading around $1,293 but far from Wednesday’s highs. Crude oil rose on Friday and closed above $102, up 2% for the week.
Main headlines in the American session
US stocks avoid third day of losses but close negative on the week
USD/JPY finishing up negative on the week
AUD/USD looking to break even on the week
GBP/USD will see more from BoE
Gold rebounds at $1,287
USD/JPY pops after solid US housing data
Housing starts in the US surged in April to 1.07 million beating expectations. The data pushed the US dollar in the market but then pulled back as stocks rose and also following the preliminary reading of the Consumer Sentiment Index from May of the University of Michigan and Thomson Reuters, that fell from 84.1 to 81.8, surprising analysts who expected a rise to 85.0.
The EUR/USD finished the week hovering around 1.3700, after being unable to rise above 1.3730 but held on top of Thursday's lows. Cable rose across the board, pushing the GBP/USD back above 1.6800, but it failed to erased weekly losses.
Commodity currencies finished slightly higher against the US dollar and practically unchanged for the week. The AUD/USD closed at daily highs on Friday around 0.9360/65 while the NZD/USD near the lows below 0.8625/30. The Canadian Dollar was among the best performers during the week. The USD/CAD ended trading at 1.0860, almost 40 pips below the price it had a week ago.
The Yen remained steady on Friday. The USD/JPY moved all day in a small range between 101.65 and 101.35; defending March and April lows. The pair ended the week with a minor loss but posting the lowest weekly close since early March. Falling US government bond yields helped the Japanese currency ahead of the Bank of Japan’s meeting.
Gold fell on Friday, and finished the week with a gain of $5, trading around $1,293 but far from Wednesday’s highs. Crude oil rose on Friday and closed above $102, up 2% for the week.
Main headlines in the American session
US stocks avoid third day of losses but close negative on the week
USD/JPY finishing up negative on the week
AUD/USD looking to break even on the week
GBP/USD will see more from BoE
Gold rebounds at $1,287
USD/JPY pops after solid US housing data