- ECB’s Wellink: Lengthening of Greek debt maturities possible
- BOE’s King: Sovereign debt the biggest risk to Europe; cautions against rate increases
- ISM manufacturing PMI dips to 60.4 in April from 61.2; stronger than expected
- ECB’s Constancio: No series of rate hikes decided
- Fed: Credit conditions eased in Q1
- S&P 500 closes 0.2% lower at 1361
- US 10-year note unchanged at 3.285%
- Gold slides late; closes at $1545; silver at $44
- US to borrow $156 bln in Q2 less than forecast in Janauary
It was a pretty quiet session in the US today with traders thinking back to September 2001 more than reacting to the death of Bin Laden in May 2011.
We did get one brief flurry of dollar selling around the 15:00 GMT fixing which took EUR/USD as high as 1.4903, high enough to trigger a barrier option. We spent the balance of the session slowly giving ground and we end the day on session lows, around 1.4825 as we saw a bit of risk aversion late in the day.
AUD/USD retested the 1.1010 level and fell back as well. Support now is at 1.0925. Trailing stops are seen now in the 1.0915/20 region.
USD/CAD rebounded late in the session. The commodities dip helped spur some short-covering as did a good deal of uncertainty ahead of the outcome of the Canadian general today. Where it once looks as though the Conservative party had a shot at a majority, a late surge by the NDP has cast doubt on that outcome.
USD/CAD closes at 0.9514, the high of the day.
