26 Jul 2013
Session Recap: Hilsenrat hits the US Dollar; Fed to keep buying rate
FXstreet.com (San Francisco) - The Dollar returned into the negative path on Thursday as WSJ journalist Jon Hilsenrath, better known as the Fedwatcher, published a suspiciously dovish report on the next week FOMC meeting. Hilsenrath commented that the Federal Reserve would keep its $85 billion-a-month bond-buying rate and officials are likely to discuss revising guidance on rates.
Then, the Greenback accelerated its decline with the USD index collapsing around 0.70% on the day to break down the 82.00 level and trade at July's lows around 81.80. On the other hand, US stocks recovered early losses and post daily gains fueled by Hilsenrath.
The EUR/USD jumped from sub 1.32 levels to test prices around 1.3300, highest since June 20. The GBP/USD traded briefly above 1.5400 but the Cable was unable to hold above it and the pair is closing around 1.5385. The USD/JPY remained in its daily range between 99.00 and 100.00. Today the pair closed at 99.30.
USD/CAD extended its decline for fifth time in the last 6 sessions. The dollar touched July's lows against the Canadian at 1.0255. The AUD/USD recovered half of the yesterday's losses and it closed at 99.40. The gold on its side, traded higher to 1,333.60, 1.07% above Wednesday’s close.
Main headlines in the American session:
US: Durable Good Orders rose 4.2% in June
US: Initial Jobless Claims rose to 343K
“Whatever it takes” don’t fight a central bank — one year since Draghi trashed the euro bears
Wall Street recovers early losses and posts daily gains
WSJ Fedwatcher Hilsenrath suspiciously dovish
Then, the Greenback accelerated its decline with the USD index collapsing around 0.70% on the day to break down the 82.00 level and trade at July's lows around 81.80. On the other hand, US stocks recovered early losses and post daily gains fueled by Hilsenrath.
The EUR/USD jumped from sub 1.32 levels to test prices around 1.3300, highest since June 20. The GBP/USD traded briefly above 1.5400 but the Cable was unable to hold above it and the pair is closing around 1.5385. The USD/JPY remained in its daily range between 99.00 and 100.00. Today the pair closed at 99.30.
USD/CAD extended its decline for fifth time in the last 6 sessions. The dollar touched July's lows against the Canadian at 1.0255. The AUD/USD recovered half of the yesterday's losses and it closed at 99.40. The gold on its side, traded higher to 1,333.60, 1.07% above Wednesday’s close.
Main headlines in the American session:
US: Durable Good Orders rose 4.2% in June
US: Initial Jobless Claims rose to 343K
“Whatever it takes” don’t fight a central bank — one year since Draghi trashed the euro bears
Wall Street recovers early losses and posts daily gains
WSJ Fedwatcher Hilsenrath suspiciously dovish