6 Sep 2013
Session Recap: Unbeatable USD; It's all about Non Farm Payrolls
FXstreet.com (San Francisco) - The Greenback advanced against its major competitors the journey ahead of the US employment report and its well known Non Farm Payrolls number. With a set of new better than expected data, investors are hoping for an upbeat NFP number that will force the Fed to start QE cuts.
A top of it, the ECB president Draghi showed a dovish perspective about the eurozone and despite the central bank 2013 GDP forecast, the chairman affirmed that the guidance will be there for long time as well as current and, even, low rates could be possible.
The EUR/USD collapsed 0.66% on the day to close at 1.3117. The Euro finally broke its 200 days moving average against the US Dollar at 1.3140 in its sixth negative day of the last seven. The GBP/USD posted its first negative session after three positive days. The Cable couldn't hold levels above the 1.5650 and the pair closed at 1.5585.
The USD/JPY remains unstoppable with the Greenback breaking above the 100.00 area and finishing at 100.10 against the Japanese Yen. The USD/CAD traded in the middle of the last two weeks range with the cross moving around 1.0500.
The AUD/USD declined from 0.9160 to wrap up the session at 0.9120. On commodities, the gold extended Wednesday's losses from 1,413 and the XAU/USD closed at 1,367. The Oil rose 1.11% to end the day at 108.42. The US 10-Year yields jumped to 3%, first time since 2011.
Main headlines in the American session:
August US ADP jobs report 176k vs 180k exp
US: Initial Jobless Claims fell to 323K
ECB's Draghi reiterates forward guidance on rates
US: ISM Non-Manufacturing PMI rises in August against expectations
US: Factory Orders drop by 2.4% in July
US 10-year yields touch 2.99%
Wall Street closes higher for third day ahead US employment report
A top of it, the ECB president Draghi showed a dovish perspective about the eurozone and despite the central bank 2013 GDP forecast, the chairman affirmed that the guidance will be there for long time as well as current and, even, low rates could be possible.
The EUR/USD collapsed 0.66% on the day to close at 1.3117. The Euro finally broke its 200 days moving average against the US Dollar at 1.3140 in its sixth negative day of the last seven. The GBP/USD posted its first negative session after three positive days. The Cable couldn't hold levels above the 1.5650 and the pair closed at 1.5585.
The USD/JPY remains unstoppable with the Greenback breaking above the 100.00 area and finishing at 100.10 against the Japanese Yen. The USD/CAD traded in the middle of the last two weeks range with the cross moving around 1.0500.
The AUD/USD declined from 0.9160 to wrap up the session at 0.9120. On commodities, the gold extended Wednesday's losses from 1,413 and the XAU/USD closed at 1,367. The Oil rose 1.11% to end the day at 108.42. The US 10-Year yields jumped to 3%, first time since 2011.
Main headlines in the American session:
August US ADP jobs report 176k vs 180k exp
US: Initial Jobless Claims fell to 323K
ECB's Draghi reiterates forward guidance on rates
US: ISM Non-Manufacturing PMI rises in August against expectations
US: Factory Orders drop by 2.4% in July
US 10-year yields touch 2.99%
Wall Street closes higher for third day ahead US employment report