Forex news for US trading on October 15, 2015
- ECB's Coeure says Euro is here to stay
- Does anyone have high hopes for US industrial production?
- Coming up in US trading - six things to watch for
- August 2015 Canadian manufacturing sales -0.2% vs -1.0% exp m/m
- Eurozone growth continues but is threatened by global downturn - Bank of Italy
- Here's one you couldn't make up - Goldman Sachs sack 20 analysts for cheating on tests
- Seems like a Friday alright
- September 2015 US industrial production -0.2% vs -0.2% exp m/m
- Flat start to Friday for US stocks
- Credit Suisse: Clients more confused than ever...
- October 2015 US Michigan consumer sentiment survey flash 92.1 vs 89.0 exp
- JOLTS job openings 5.37M vs. 5.58M est.
- US will see 2.9% jump in consumer spending in 2016 - Michigan's Curtin
- JOLT, Michigan consumer confidence come and go...
- Gold stays above 200 day MA, but...
- European stocks see out the week in gains
- GBP still constructive. Keep buying dips according to Credit Agricole
- US Treasury Secretary Lew reiterates importance of Greece implementing reforms
- Baker Hughes oil rig count 595 vs. 605 prior
- China GDP to be released on Monday
- Key economic events and releases for the week starting October 18th/19th
- Fed's Mester: US economy can handle a rate hike
- CFTC Commitments of Traders report: Shorts in EUR trimmed by 8K
- US Monthly TIC flows -9.2B vs 141B last month
- US stock indices end the week up
- The forex winners and losers for the trading day
Fundamentally speaking, the US had JOLTs job opening data come out a little weaker than expectations but still at high levels. The University of Michigan consumer confidence came out better than expected. In Canada, manufacturing sales were better at -0.2% vs -1.0% estimate. Later in the day, Bakers Hughes rig counts declined for the 7th consecutive week. and CFTC Commitment of Traders report showed that traders liquidated positions modestly in the current surveyed week.
The greenback was higher vs. all the major currency pairs - rising the most vs the AUD. The AUDUSD tested the 100 day MA at the 0.73508 level today/this week, and traders used the MA to lean against for shorts. The price did most of the selling in the Asian Pacific session. Most of the NY session was spent moving above and below the 200 hour MA at the 0.7270 level.
The EURUSD spent the entire day (and NY session) trading between the 100 hour MA above and the 200 hour MA below (currently at 1.1396 and 1.1347). In early next weeks trading traders will look for a break and run. Be aware.
The GBPUSD was another pair which did nada in NY session. Well, it moved up and it moved down, it moved up and down again. Overall, 33 pips defined the NY trading range. Not a lot of rhythm or reason to the ebbs and flows - just Friday trading.
The USDJPY broke to the upside extending above the 100 hour MA for the 1st time this week. The pair moved close to the 119.72 level (high at 119.65). That level was the low close going back to early September (until this week that is). The level will be eyed next week.
Key events and releases next week
ECB decision and press conference
BOC decision and press conference
UK retail sales
US flash PMI
Have a great weekend.