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- New York 16:00
- London 21:00
- Barcelona 22:00
- Tokyo 06:00
- Sydney 08:00
Market Session Recaps
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0
New York Session
Wed, Jan 14 2009, 22:10 GMT
by Forex.com Research Desk
NY trading was once again highlighted by the return of risk aversion. US stocks plunged more than -3% on the back of a dismal US retail sales report that showed a -2.7% headline decline for the month of December. The control number, which excludes auto dealers and building materials, sank at a whopping -22.3% annual rate over 4Q and suggests a US GDP number in the realm of -7% cannot be ruled out. Despite the overall weak tone to US economic news, the buck was mixed against the majors.
EUR/USD was little changed from the NY session open and sitting near 1.3180 just ahead of Asia trading. The 1.31 level looks crucial overnight now and we would expect a break below 1.3080 hourly trendline support should open the door to 1.30 relatively quickly. The yen crosses were lower as US bond yields plunged on the flight to safety. USD/JPY slipped about -50 pips towards key 89 support level while EUR/JPY shed more than -65 points towards the 117.30/40 zone.
Commodity currencies were crushed as better than expected weekly petroleum inventory builds drove oil prices lower. Crude recovered a touch but was still down more than $1 near $37.40 at the close. USD/CAD surged more than 250 pips and was sitting near the 1.2480/90 intraday highs minutes ago. AUD/USD, meanwhile, sank about -90 pips to around a 0.6600/10 close.
Upcoming Economic Data Releases (Asia Session) prev est
- 1/14 23:50 GMT JN Machine Orders (MoM) NOV -4.40% -8.00%
- 1/14 23:50 GMT JN Domestic CGPI (MoM) DEC -1.90% -1.50%
- 1/15 0:30 GMT AU Employment Change DEC -15.6K -20.0K
- 1/15 0:30 GMT AU Unemployment Rate DEC 4.40% 4.50%
- 1/15 5:00 GMT US Fed's Yellen Speaks on U.S. Economy
Published on Wed, Jan 14 2009, 22:11 GMT
Archive
- London Session
Published On Fri, Nov 6 2009, 11:03 GMT - Asia Session
Published On Fri, Nov 6 2009, 06:52 GMT - New York Session
Published On Fri, Nov 6 2009, 00:00 GMT - London Session
Published On Thu, Nov 5 2009, 11:08 GMT - Asia Session
Published On Thu, Nov 5 2009, 07:03 GMT
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