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Market Session Recaps
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New York Session
Mon, Aug 18 2008, 21:32 GMT
by Forex.com Research Desk
The greenback saw a relatively uneventful trading session in NY, as the lack of major economic data had the markets focused on equities and oil. EURUSD opened near 1.4705 and was sitting near the 1.4700 mark at the close. The lack of decisive direction in the pair is likely due to the fact that the market awaits the results of the German and Euro-zone ZEW economic sentiment surveys due up in the London session. Weaker than expected results here should see EURUSD back towards today's lows of 1.4645 initially.
Oil fell a little more than $1 in NY trading to $112.85/bbl as traders went back and forth on whether Tropical Storm Fay would impact oil facilities in the Gulf. The drop helped USDCAD rally a little more than 40 pips in the session. The pair opened near 1.0605 and was sitting around the 1.0645 mark at the close.
USDJPY did the opposite and slipped about 20 pips in NY after opening near the 110.25 level. The move looks to have been driven by the -1.5% plunge in US stocks and commensurate 3-5 basis point declines in US yields. EURJPY closed below the 200-day SMA near 162.15 and now looks poised to extend losses further.
Upcoming Economic Data Releases (Asia Session):
- 8/18/2008 22:45 GMT NZ Producer Prices- Inputs (QoQ) 2Q 2.30% - -
- 8/18/2008 22:45 GMT NZ Producer Prices- Outputs (QoQ) 2Q 1.80% - -
- 8/19/2008 1:30 GMT AU Preliminary BoP Imports MoM sa JUL -2.00% - -
- 8/19/2008 1:30 GMT AU Reserve Bank's Board August Minutes
- 8/19/2008 JN BOJ Target Rate 0.50% 0.50%
Published on Mon, Aug 18 2008, 21:34 GMT
Archive
- New York Session
Published On Tue, Dec 2 2008, 22:13 GMT - London Session
Published On Tue, Dec 2 2008, 13:13 GMT - Asia Session
Published On Tue, Dec 2 2008, 07:41 GMT - New York Session
Published On Mon, Dec 1 2008, 22:28 GMT - London Session
Published On Mon, Dec 1 2008, 13:18 GMT
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