Market Session Recaps

London Session

Mon, Jul 21 2008, 13:57 GMT
by Forex.com Research Desk

FOREX.com


The buck lost ground in a very quiet London session.  Lacking any news or economic data releases to bite on, the sideways trading was symptomatic of a market awaiting the open of the US stock market in the NY morning.

EUR/USD opened near the 1.5870 mark and closed just a touch higher near 1.5885.  USD/JPY was also little changed, with the pair opening near 106.80 and closing around the 106.70 level.  GBP/USD witnessed similar results, rising to a close near 1.9975 after opening near the 1.9945 mark.

In the early NY session we got news that a major US bank beat earnings estimates by more than 30% and this helped nudge yen crosses higher.  Given the lack of any major economic data releases in the NY session, we expect all eyes will once again be focusing on the US stock market and more specifically, financials stocks.
 

Upcoming Economic Data Releases (NY Session):

  • 7/21 14:00 GMT US Leading Indicators JUN                                  0.10%     -0.10%

Published on  Mon, Jul 21 2008, 13:58 GMT

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