3 Sep 2013
Session Recap: The tale of the weakest winner
FXstreet.com (San Francisco) - The US dollar advanced on Tuesday on the back of better than expected manufacturing data. However the gains were limited to the weak rivals. Overall, the market traded on risk aversion and wait-and-see mode amid key data to be release late in the week and ongoing worries over Syria as US congress seems to be ready to approve Obama's attack.
In this line, the EUR/USD declined to the lowest level since July 22 at 1.3135, but the pair was rejected by the 200 days moving average. Then, the euro recovered some ground to close at 1.3170 against the Dollar. The EUR/USD declined for sixth day.
The Sterling traded higher against the USD with the GBP/USD testing the 1.5600 area and closing positive for second day at 1.5565. The USD/CAD remained trading in its recent days range in between 1.0510 and 1.0560. The AUD/USD accelerated to trade above the 0.9050 area and to post highs since August 21 at 0.9070.
The USD/JPY performed its fourth positive day of the last five with the pair trading close to the 100.00 area again. However, as FXstreet.com's Valeria Bednarik said in a recent report: "maintaining the overall positive tone and boosted by US encouraging data. 100.00 however, it seems too much for the pair at the time being, with key data ahead this week."
The gold jumped above the $1,400 area after performing its first day of gains after three negative sessions. Now the XAU/USD is closing at 1,412.75. The oil extended its recovery from Monday's lows at 105.51 to trade at 108.80.
Main headlines in the American session:
US: Markit manufacturing PMI at 53.1 in August
US: ISM Manufacturing PMI climbs to 55.7 in August
US: Construction Spending grows more than expected in July
Blame it on September or blame it on risk aversion behavior? Gold’s back above $1,400
Kerry says Obama not looking for war in Syria, will deter and degrade chemical weapons capability
Wall Street closes higher on US data, however Syria fixes the agenda
In this line, the EUR/USD declined to the lowest level since July 22 at 1.3135, but the pair was rejected by the 200 days moving average. Then, the euro recovered some ground to close at 1.3170 against the Dollar. The EUR/USD declined for sixth day.
The Sterling traded higher against the USD with the GBP/USD testing the 1.5600 area and closing positive for second day at 1.5565. The USD/CAD remained trading in its recent days range in between 1.0510 and 1.0560. The AUD/USD accelerated to trade above the 0.9050 area and to post highs since August 21 at 0.9070.
The USD/JPY performed its fourth positive day of the last five with the pair trading close to the 100.00 area again. However, as FXstreet.com's Valeria Bednarik said in a recent report: "maintaining the overall positive tone and boosted by US encouraging data. 100.00 however, it seems too much for the pair at the time being, with key data ahead this week."
The gold jumped above the $1,400 area after performing its first day of gains after three negative sessions. Now the XAU/USD is closing at 1,412.75. The oil extended its recovery from Monday's lows at 105.51 to trade at 108.80.
Main headlines in the American session:
US: Markit manufacturing PMI at 53.1 in August
US: ISM Manufacturing PMI climbs to 55.7 in August
US: Construction Spending grows more than expected in July
Blame it on September or blame it on risk aversion behavior? Gold’s back above $1,400
Kerry says Obama not looking for war in Syria, will deter and degrade chemical weapons capability
Wall Street closes higher on US data, however Syria fixes the agenda