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22 Jun 2013
Session Recap: USD advances further and closes the week with as the king
FXstreet.com (San Francisco) - The Greenback extended on Friday its weekly gains as investors were digesting Fed words on QE tapering. Against its major competitors the USD was the winner the last day of the week, except the Aussie, which AUD/USD seems to have found floor.
The EUR/USD fell to test the 1.3100 level as lowest since June 6th, the pair declined 300 pips after Wednesday Fed's meeting and currently it's closing around 1.3120. Perspective remains bearish in all timeframes and as FXstreet.com's analyst Mauricio Carrillo wrote in his Twitter account: "Only 2 banks and 2 traders aren't bearish in EUR/USD for next week," referencing to the FXstreet.com Forecast Poll table.
The GBP/USD touched levels below the 1.5400 area at 1.5365 but the pair managed to recover ground and it closed at 1.5415. The USD/JPY advanced further but the pair was unable to conquer the 98.00 level.
The USD/CAD did another jump to trade at levels not seen since November 2011 at 1.0485, this time fueled by the inflation number and the weaker than expected retail sales data. The AUD/USD stopped the bloody at 0.9160 after collapsing 500 pips since June 14th. Now the pair is trading at 0.9215.
Main headlines in the American session:
Canada: Annual CPI rises 0.7% in May
Canada: Retail Sales rise less than expected in April
Greek government shaken by coalition partner pullout
If the Fed is right, it’s the start of an endless summer for the dollar
Fitch affirms Norway at AAA, outlook stable
Wall Street closes mixed after 2-day sell off but down on the week
The EUR/USD fell to test the 1.3100 level as lowest since June 6th, the pair declined 300 pips after Wednesday Fed's meeting and currently it's closing around 1.3120. Perspective remains bearish in all timeframes and as FXstreet.com's analyst Mauricio Carrillo wrote in his Twitter account: "Only 2 banks and 2 traders aren't bearish in EUR/USD for next week," referencing to the FXstreet.com Forecast Poll table.
The GBP/USD touched levels below the 1.5400 area at 1.5365 but the pair managed to recover ground and it closed at 1.5415. The USD/JPY advanced further but the pair was unable to conquer the 98.00 level.
The USD/CAD did another jump to trade at levels not seen since November 2011 at 1.0485, this time fueled by the inflation number and the weaker than expected retail sales data. The AUD/USD stopped the bloody at 0.9160 after collapsing 500 pips since June 14th. Now the pair is trading at 0.9215.
Main headlines in the American session:
Canada: Annual CPI rises 0.7% in May
Canada: Retail Sales rise less than expected in April
Greek government shaken by coalition partner pullout
If the Fed is right, it’s the start of an endless summer for the dollar
Fitch affirms Norway at AAA, outlook stable
Wall Street closes mixed after 2-day sell off but down on the week