Forex headlines for October 31, 2013:
•. Initial jobless claims 340K vs 338K
•. Chicago PMI 65.9 vs 55.0 but caveats apply
•. Canadian Aug GDP +0.3% vs +0.1% exp
•. Numerous banks make calls for ECB to cut rates next week
•. BOE’s Weale says unemployment has surprised in the past, could do it again
•. Rand Paul throws in the towel on Yellen blockade
•. Gold down $20 to $1324
•. WTI crude down 50-cents to $96.27
•. CAD leads, EUR lags
The euro fell the most in four months, plunging 1.5 cents to 1.3582. Soft eurozone inflation kicked off the rout but US traders had plenty of time to get on board from 1.3640 at the star of US trading. A late bounce couldn’t even clear 1.3600 and we’re headed for a close near the lows of the day.
USD/JPY was much less exciting. It wiped out most of the post-Fed gains by the time US trading got underway. The pair spiked up on the Chicago PMI but slowly gave it back and then sellers dumped into the London fix. Small bounce late to 98.33.
EUR/GBP took a beating but cable was stuck in a chop. It made several trips from 1.6030 to 1.6070 and back again. Last at 1.6036.
The loonie liked the GDP numbers and took the opportunity to mount a rebound against the dollar. USD/CAD steadily fell and hit stops below 1.0420 late but has bounced back to 1.0428.
The Australian dollar came into US trading near a session high at 0.9525 but slumped steadily down to 0.9460.
•. Initial jobless claims 340K vs 338K
•. Chicago PMI 65.9 vs 55.0 but caveats apply
•. Canadian Aug GDP +0.3% vs +0.1% exp
•. Numerous banks make calls for ECB to cut rates next week
•. BOE’s Weale says unemployment has surprised in the past, could do it again
•. Rand Paul throws in the towel on Yellen blockade
•. Gold down $20 to $1324
•. WTI crude down 50-cents to $96.27
•. CAD leads, EUR lags
The euro fell the most in four months, plunging 1.5 cents to 1.3582. Soft eurozone inflation kicked off the rout but US traders had plenty of time to get on board from 1.3640 at the star of US trading. A late bounce couldn’t even clear 1.3600 and we’re headed for a close near the lows of the day.
USD/JPY was much less exciting. It wiped out most of the post-Fed gains by the time US trading got underway. The pair spiked up on the Chicago PMI but slowly gave it back and then sellers dumped into the London fix. Small bounce late to 98.33.
EUR/GBP took a beating but cable was stuck in a chop. It made several trips from 1.6030 to 1.6070 and back again. Last at 1.6036.
The loonie liked the GDP numbers and took the opportunity to mount a rebound against the dollar. USD/CAD steadily fell and hit stops below 1.0420 late but has bounced back to 1.0428.
The Australian dollar came into US trading near a session high at 0.9525 but slumped steadily down to 0.9460.