Forex news for US trading on June 11, 2015:
- May US retail sales +1.2% vs +1.2% expected
- Retail sales ex-autos, gas and building supplies (control group) +0.7% vs +0.5% expected
- US initial jobless claims 279k vs 277k exp
- IMF says it has major differences with Greece in key areas
- US April business inventories +0.4% vs +0.2% expected
- BOC's Poloz says Jan rate hike reduced downside risk to inflation
- May 2015 US import price 1.3% vs 0.8% exp m/m
- April 2015 Canadian new house price index 0.1% vs 0.1% exp m/m
- S&P 500 up 2 points to 2107
- Gold down $4 to $1182
- WTI crude down 76-cents to $60.67
- US 10-year yields down 10 bps to 2.38%
- USD and AUD lead, NZD lags (badly)
The US dollar was given a solid retail sales report and the euro was hit by the IMF walking out of Greek negotiations in Brussels. Yet after a dip to 1.1182 on retail sales, it's been steadily higher for the euro and we finish at 1.1273 00 the highest levels of US trading. The euro still finished down a half-cent on the day but all-and-all it's a pretty good performance.
USD/JPY was attempting to reverse yesterday's Kuroda-driven move as US traders arrived and jumped above 124.00 on retail sales but immediately fell back down to 123.29. There was some consolidation around 123.65 for a few hours but now it's back toward the lows at 123.35.
GBP/USD fell in Asia and then retested the 1.5422 session low after retail sales but it's been a steady climb to 1.5530 from there.
USD/CAD also gave up most of its Asian gains and will finish up by only around 20 pips at 1.2274 from as high as 1.2354. These aren't good signals for the US dollar.
AUD/USD is back on the upswing. After erasing all of the jobs-report gains in Europe, it's back to 0.7765 from a US low just below 0.7700.
