Forex news for US trading on Sept 25, 2015:

  • Q2 2015 US GDP final revision 3.9% vs 3.7% exp q/q ann
  • September 2015 US Markit services PMI flash 55.6 vs 55.6 exp
  • September 2015 US Michigan consumer sentiment index final 87.2 vs 86.7 exp
  • John Boehner to resign from leadership post
  • Fed's Bullard: Case for normalising policy is quite strong
  • Survey inflation data shows that expectations are stable says Bullard
  • US August building permits data revised lower
  • HKMA intervenes again to keep HK$ in trading band
  • Yellen says she's fine after feeling unwell during speech
  • S&P affirms Austria, upgrades Cyprus
  • S&P revises Finland outlook to negative from stable
  • IMF to cut German growth outlook on emerging market slowdown - report
  • Baker Hughes oil rig count 640 vs 644 prior
  • Fed's George: US growth has held up despite headwinds
  • ECB's Weidmann fighting another losing battle
  • Gold down $8 to $146
  • WTI crude down 69-cents to $45.60
  • S&P 500 down 1 point to 1931
  • US 10-year yields down 4 bps to 2.16%
  • NZD leads, JPY lags

The euro hit 1.1116 in European trading and re-tested the lows as New York arrived but it was a steady reversal afterwards as stock market sentiment wilted. That led to some US dollar selling and the euro recouped much of its losses to finish at 1.1208.

Cable fell for the sixth day and EUR/GBP rose for the fourth day. GBP/USD, importantly, fell below the September low of 1.5151 but notably didn't close below (although it finished at 1.5180 on some final-minute selling). There hasn't been a shift at the BOE and this is starting to look very overdone but it's tough to step in with GBP so close to a breakdown.

AUD/USD finished up slightly on the day. Commodities were mixed and sentiment negative but it held in there. The range on the day was relatively narrow but the theme in US trading was a chop higher to 0.7030 after twice finding support at 0.6690 early in the day.

USD/CAD was rangebound around 1.3325 as it consolidates after hitting an 11-year high today. The good news for bulls is that oil was 1% higher and USD/CAD still gained a third of a cent on the day.

USD/JPY looked to be breaking out of the month-long wedge to the upside as stocks took off early but biotech was crushed and stocks fell more than 30 points from the highs to finish flat. That pulled the pair down to 120.55 from 121.25 and gave a broad lift to the yen.

Have a great weekend!