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25 Feb 2015
US Session recap: No savour for the Greenback
FXStreet (Guatemala) - Another day another decline in the dollar with Yellen beating the same drum again in another testimony at Capital Hill.
Federal Reserve Chairwoman Janet Yellen put forward her testimony and then answered questions from members of Congress for another time and stressed yet again that Federal Open Market Committee is confident that inflation is on the right path towards the Feds inflation target of 2% growth. There were no great shakes and we continued with the same direction and themes today.
Wall Street was in positive territory after the same tunes in the second testimony by Yellen, with the S&P hitting a high of 2119 before tailing off towards the close. gold was reaching $1,211 as a high, again, before sliding to $1,200 at mid day and then regaining some momentum up to $1,1204. WTI was better bid throughout the day on a drift to $50.41 the high.
EUR/USD was not giving anything away one way or the other and was moving higher towards the middle of the day in a small range on the 1.13 handle.1.1340 was supporting the downside in the early hours of trade, before drifting through the middle of the handle and settled around here after a quick spike to 1.1368.
USD/JPY bulls were lazy today with only a light effort at the 119 handle across a sleepy major that didn't give us anything in the way of a story to tell. The major was a drift from the middle of the 118 handle until it was evident that there was nothing behind a pop at the 119 handle, reaching only as high as 119.07.
The commodity currencies stayed at home today and little business was done. USD/CAD, the biggest drifter, was a 60 pip sideways range on lower end of 1.24 handle while Aussie was a 20 pip range on the upper end of the 0.78 handle with 0.7902 the high and the Kiwi was similar play between 0.7525/58.
Key events:
Yellen kept to the same beat while from the data sources, we only had sales of new single-family houses in January 2015 form the US. These were at a seasonally adjusted annual rate of 481,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
Federal Reserve Chairwoman Janet Yellen put forward her testimony and then answered questions from members of Congress for another time and stressed yet again that Federal Open Market Committee is confident that inflation is on the right path towards the Feds inflation target of 2% growth. There were no great shakes and we continued with the same direction and themes today.
Wall Street was in positive territory after the same tunes in the second testimony by Yellen, with the S&P hitting a high of 2119 before tailing off towards the close. gold was reaching $1,211 as a high, again, before sliding to $1,200 at mid day and then regaining some momentum up to $1,1204. WTI was better bid throughout the day on a drift to $50.41 the high.
EUR/USD was not giving anything away one way or the other and was moving higher towards the middle of the day in a small range on the 1.13 handle.1.1340 was supporting the downside in the early hours of trade, before drifting through the middle of the handle and settled around here after a quick spike to 1.1368.
USD/JPY bulls were lazy today with only a light effort at the 119 handle across a sleepy major that didn't give us anything in the way of a story to tell. The major was a drift from the middle of the 118 handle until it was evident that there was nothing behind a pop at the 119 handle, reaching only as high as 119.07.
The commodity currencies stayed at home today and little business was done. USD/CAD, the biggest drifter, was a 60 pip sideways range on lower end of 1.24 handle while Aussie was a 20 pip range on the upper end of the 0.78 handle with 0.7902 the high and the Kiwi was similar play between 0.7525/58.
Key events:
Yellen kept to the same beat while from the data sources, we only had sales of new single-family houses in January 2015 form the US. These were at a seasonally adjusted annual rate of 481,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.