FX Highlights

  • Obama cites improving US economic data as a sign the bottom of the recession is i.
  • The USD/JPY and the YEN crosses were relatively stagnant during the Asian session, tight ranges and light volume were noted
  • The EUR was choppy over night, trading between 1.4050-1.4100, German unemployment data weighed on the currency initially and then boosted by Euro Zone economic confidence figures for July, up to 76.0 from 73.2
  • The sterling bounced back from a 2 day decline following better housing news across the UK, British home prices climber in July for the third straight month
  • The CAD continues to back off its 7 day run higher against the dollar, yesterday's sharp break in crude had the US/CAD caught in a relatively tight range between 1.0830-1.0915 during the late European session
  • AUD/USD opened at 0.8170 in Sydney during lackluster trading between 0.8143-93, Wednesday's dip in gold has bulls on the defensive at the moment
  • Pre-open US DOW and NASDQ stock futures higher
  • OIL futures recover over night with futures points slightly higher, above $64/brl

Upcoming Events

  • US- Initial jobless claims 570K, Continuing claims 630K
  • CAN- Industrial product price +0.1%, Raw materials price index +3.0%