Forex news for US trading on June 15, 2015:
- May 2015 US industrial production -0.2% vs +0.2% exp m/m
- June 2015 US Empire state manufacturing index -1.98 vs 6.00 exp
- US NAHB housing market index 59 vs 56 expected
- Pace of ECB bond buying slowed last week
- Fed lift off in September says Reuters poll
- Canadian May existing home sales +3.1% vs +2.3% prior
- Canada April manufacturing sales -2.1% vs -0.5% expected
- BOE's Forbes says that blaming the crisis for weak productivity is fading
- Eurozone countries ready capital controls for Greece - German press
- Greek government denies report on capital controls
- ECB's Praet won't comment on Greek exit while Nowotny says every central bank needs to assign risk to it
- IFO's Sinn says it's time for Greek creditors to "face the truth"
Draghi:
- Draghi: Latest data points to recovery at moderate pace
- Draghi says ECB could buy Greek debt if the program review is concluded
- ECB has all the tools to manage a Greek exit
- ECB will take its decisions on Greece in full independence says Draghi
Markets
- Gold up $5 to $1186
- WTI crude oil down 34-cents to $59.62
- S&P 500 down 8.5 points to 2085
- US 10-year yields down 3.4 bps to 2.36%
- AUD leads, CHF lags
The euro and pound will finish trading near the highs of the day in an impressive rebound. The story in US trading has been buying in both despite the problems in Greece and chatter about capital controls. EUR/USD has yet to break 1.13 after it flirts with Friday's high of 1.1296, falling just short so far. The pound cruised through Friday's high late in trading and continued above 1.5600 to 1.5614 at the high.
USD/JPY was at 123.60 at the start of US trading and near a session high but it because to slide ahead of the Empire Fed and was locked near 123.35 after IP. It bounced to 123.50 from there but finishes back near the lows despite a rebound in risk sentiment.
USD/CAD tried the upside as WTI oil prices fell as low as $58.73 but oil rebounded $1 and USD/CAD tracked back to 1.2300, leaving the pair virtually unchanged on the day.
AUD/USD jumped in Europe and that continued in early US trading as it rose to 0.7775 from 0.7720. A rebound in copper prices helped. Afterwards there wasn't much for US traders to trade as it chopped in the 0.7750 to 0.7777 range.
