Forex trading news for April 28, 2015, US edition:

  • US April consumer confidence 95.2 vs 102.2 expected
  • April 2015 US Richmond Fed manufacturing index -3 vs -2 exp
  • February 2015 US Case Shiller house price index 0.9% vs 0.8% exp m/m SA
  • US wages revised higher for Q4 2014
  • Poloz: Positive forces to emerge in the second half
  • API crude oil inventories +4.2m bbls vs approx +2.8m exp
  • Canada's Oliver says that they know Q1 growth will be weak
  • Iranian forces seize vessel
  • US planes and Destroyer USS Farragut responded to distress call from ship in Iran waters - Pentagon
  • OPEC technical officials to meet with non-OPEC producers on May 12
  • US 5-year auction 1.380 vs 1.395% WI
  • Weidmann takes issue with Bernanke
  • Ford Q1 earning miss while Pfizer cuts forecasts on FX
  • Twitter earnings leak early
  • Gold up $8 to $1212
  • WTI up 4-cents to $57.03
  • S&P 500 up 6 points to 2114
  • AUD leads, USD lags

Modest US dollar losses turned into a rout after soft consumer confidence data. It was a huge day for AUD bulls as a relentless bid drove AUD/USD above 0.8000.

US dollar was truly a European-session phenomenon. It began when London traders walked in the dollar and didn't stop until they went to the pub. Cable was incredible as it rebounded from a terrible GDP number and 100 pip drop to completely wipe out the losses within an hour and then march nearly another 100 pips higher to a six week high of 1.5340, finishing right near the highs.

AUD/USD was a one-way trade, hitting buy stops above 0.7950 and then stalling ahead of 0.8000 for a period but ultimately breaking through to 0.8028 in it's biggest day in weeks.

EUR/USD also took advantage, gaining a full cent to 1.0979. The Greek story was less of a factor and it looked to be general USD weakness. The pair climbed to 1.0975 from 1.0925 on the consumer confidence data and touched as high as 1.0992.

USD/CAD was on the defensive, falling to 1.2020. The pair ticked higher as Poloz began speaking but there was no reason to buy as he remained very optimistic on the outlook after Q1. The market then turned sharply lower.

Gold is approaching the key $1220 zone after a second day of large gains. The high print was $1215.

The Twitter early release was quite a story late in the day and we had it very quickly, thanks to our friends @selerity. Follow us on Twitter as well.