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- New York 05:27
- London 10:27
- Barcelona 11:27
- Tokyo 19:27
- Sydney 21:27
Market Session Recaps
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Asia Session
Wed, Jul 1 2009, 07:25 GMT
by Forex.com Research Desk
Today saw the US Dollar holding on to most of yesterday's gains and the Yen slide later in the session as Chinese manufacturing rose for a fourth consecutive month, increasing demand for riskier, higher yielding assets. Yesterday, disappointing US consumer confidence data dampened optimism and sent traders scrambling for the safety of the greenback, pushing it to highs that were mostly maintained today in Asian trading despite a wave of risk appetite coming back into the market.
EUR/USD stayed in a range of 50 or so pips for the day, with the dollar getting close to breeching the 1.4000 level, but not quite making it through; the Euro looked complacent near 1.4035ish as the day was beginning in London. With recent market moves it seems like traders are confounded as far as trying to decipher multiple data releases and their market relevance. USD/CHF traded sideways but for a quick hiccup that helped push the days range to 40 pips, although net unchanged on the day. USD/CAD as well finished where it began the session, close to 1.1620 after a calm 45 pip day.
The big moves of the day all involved the selling of the Yen, which was sparked when Chinese PMI came out positive for the fourth consecutive month enticing investors to seek higher yielding assets. USD/JPY jumped from its 96.17 area lows to a touch under 97.00 as the positive data was digested. The yen crosses reacted in a similar fashion, with EUR/JPY moving from lows near the 135.00 figure to highs that flirted with the 136.00 big figure where the pair looked a bit unsteady as the day wound down. Although the weak yen was the primary mover, solid retail sales data in Australia certainly didn't hinder the AUD/JPY move from the 77.55 area to just under 78.10. The Japanese Tankan Survey came out slightly better as the market anticipated, and there was little to no effect in currency markets. With a holiday shortened week in the US, all eyes will be on US employment data on Thursday.
Upcoming Economic Data Releases (London Session) prior expected
| 7/1/2009 | 6:00 | GE | Retail Sales (MoM) | MAY | 0.50% | 0.00% |
| 7/1/2009 | 6:00 | GE | Retail Sales (YoY) | MAY | -0.80% | -1.50% |
| 7/1/2009 | 7:30 | SZ | SVME-Purchasing Managers Index | JUN | 39.8 | 41 |
| 7/1/2009 | 7:50 | FR | PMI Manufacturing | JUN F | 45.5 | - - |
| 7/1/2009 | 7:55 | GE | PMI Manufacturing | JUN F | 40.5 | 40.5 |
| 7/1/2009 | 8:00 | UK | Bank of England Releases Comments By Haldane | 1-Jul | ||
| 7/1/2009 | 8:00 | EC | PMI Manufacturing | JUN F | 42.4 | 42.4 |
| 7/1/2009 | 8:30 | UK | PMI Manufacturing | JUN | 45.4 | 46.4 |
| 7/1/2009 | 8:30 | UK | Index of Services (3mth/3mth) | APR | -1.20% | - - |
Published on Wed, Jul 1 2009, 07:29 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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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.Related reports
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