23 May 2014
Session Recap: EUR underperforms in quiet session
FXStreet (Córdoba) - The FX market enjoyed a quiet session ahead of long weekends in the US and UK, and with EU Parliament and Ukraine elections coming up this weekend.
The euro was among the worst performers hit by the release of lower-than-expected German IFO figures for May. The decline in the German IFO index pushed the EUR/USD to a fresh 3 ½-month low of 1.3616. The euro shared currency also printed a 17-month low versus the pound (0.8080).
Other than that, majors were relatively quiet, with the USD a tad higher across the board. GBP/USD fell to a 2-day low of 1.6838, while the USD/JPY rose to an 8-day high just shy of 102.00.
During the New York session main focus will be on US April new home sales and Canadian CPI. After that, the calendar is pretty much empty until Tuesday, with only European election's results expected over the weekend.
Main Headlines in Europe:
Germany: Annual GDP rises 2.5% in Q1
Germany: IFO – Business Climate down to 110.4 in May, below expectations
What’s the sentiment around the EUR/USD today? – Danske Bank and Commerzbank
Asia EM Express: Markets unnerved by Thai coup
Gradual tightening ahead for the RBNZ? - RBS
The euro was among the worst performers hit by the release of lower-than-expected German IFO figures for May. The decline in the German IFO index pushed the EUR/USD to a fresh 3 ½-month low of 1.3616. The euro shared currency also printed a 17-month low versus the pound (0.8080).
Other than that, majors were relatively quiet, with the USD a tad higher across the board. GBP/USD fell to a 2-day low of 1.6838, while the USD/JPY rose to an 8-day high just shy of 102.00.
During the New York session main focus will be on US April new home sales and Canadian CPI. After that, the calendar is pretty much empty until Tuesday, with only European election's results expected over the weekend.
Main Headlines in Europe:
Germany: Annual GDP rises 2.5% in Q1
Germany: IFO – Business Climate down to 110.4 in May, below expectations
What’s the sentiment around the EUR/USD today? – Danske Bank and Commerzbank
Asia EM Express: Markets unnerved by Thai coup
Gradual tightening ahead for the RBNZ? - RBS