Forex trading news for April 23, 2015, US edition:
- March 2015 US new home sales 0.481m vs 0.513m exp
- US initial jobless claims 295k vs 290k exp
- April 2015 US Markit manufacturing PMI flash 54.2 vs 55.7 exp
- April 2015 Kansas City Fed manufacturing index -7 vs -2 exp
- US sells 5-year TIPS at -0.335% vs -0.334% WI
- Five year breakevens rise to highest levels since September
- Greece may be given a final reform extension window -MNI
- Merkel and Tsipras second date went swimmingly says Greece
- Deutsche Bank fined a total of $2.5bn over LIBOR failings
- Gold up $7 to $1193
- WTI crude up $1.58 to $57.74
- US 10-year yields down 2 bps to 1.96%
- S&P 500 up 5 points to 2113
- CHF leads, NZD lags
It's all about the economic data at the moment. US data was a bit soft and it led to a run on the US dollar. USD/JPY fell to 119.57 after flirting with 120.10 at the start of US trading.
Similar sized drops hit the US dollar right across the board in New York trading. Cable jumped up to 1.5057 from 1.4980 to nearly match yesterday's high.
USD/CAD got some extra selling pressure, falling more than a cent from the US opening levels to 1.2141. The pair was helped by a run up in oil prices to fresh highs for 2015.
The euro was also an outperformer. An extra boost came from more positive talk out of Greece. It bottomed early in European trading at 1.0675 then made a relentless climb to 1.0842, which is the highest this week. The euro is looking awfully strong at the moment and shorts are going to start feeling the squeeze but there are still some technical barriers standing in the way of a retest of 1.10.
