- Eurogroup’s Juncker endorses Draghi for ECB chief
- US GDp growth slows to 1.8% in Q1
- US weekly jobless claims rise 25,000 to 429,000
- US pending home sales index rises 5.1% in March, down 11% year-over-year
- KC Fed index slides to 17 in April from 39 in March
- Bild reports Merkel to support Draghi for ECB head; spokesman denies
- US Senator Schumer threatens legislation to force Chinese revaluation
- US 10-year note yield falls 4.5 bp to 3.31%
- S&P 500 rises 0.4% to 1360; nearly 3-year high
- Gold closes at record $1536; silver falters near $50 again
EUR/USD spent the US session backing and filling finding buyers on dips from Asian central banks in the 1.4775 area while the BIS was a rumored seller on rallies to the 1.4840/50 area. Strong commodities and Weak US data keep the dollar heavily on the defensive.
USD/JPY traded heavy for most of the session, weighed down by the lower US yields as well as some heavy sales early in the day from macro hedge funds. The BIS was a rumored buyer of USD/JPY around 81.50 in Europe and dips in NY were limited to 81.40.
AUD/USD saw some profit-taking during the US morning (as did commodities, for a time), but it recouped intraday losses and ends the day in the 1.0925 area. US real money accounts were sellers around present levels late in the day.
GBP trader softer on the crosses, perhaps for month-end reasons with the UK on holiday tomorrow for the royal nuptials. EUR/GBP ends at 0.8910.
