Article / 09 August 2016 at 23:41 GMT

US Market Wrap: Greenback gives back some gains

FX Trade Strategist /


  • Japan: Machinery Orders 2350 GMT 
  • US Data released: 
  • American Petroleum Institute-API (Actual 2.09 m/b vs. previous -1.30 m/b)

FX markets awoke in New York, although they were more groggy than bright-eyed and bushy tailed. EURUSD and GBPUSD were offered at the start of the session but as soon as those sellers were satisfied, both currency pairs popped.

USDJPY continued the slide that was inherited from Europe.

Today’s US data was a non-event until the API Weekly crude stocks report at the end of the day. API reported a 2.09-million-barrel build which took WTI off its intraday high of $43.48/barrel and took it back to $42.65/b at the close.

It remains to be seen today’s data will be validated by tomorrow’s EIA data.

US equity indices were flat to slightly higher. At the end of the day, Walt Disney Co (DIS: NYSE) reported a better-than expected quarterly profit.


If you think that the GBPUSD may be overly pessimistic, read TradingFloor contributor, Neil Staines article: In for a pound

-- Edited by Adam Courtenay

Michael O'Neill is an FX consultant at IFXA Ltd. Follow Mike or post your comment below to
engage with Saxo Bank's social trading platform.

Missed a day? Here’s what we had to say during our Asian session and our regular European Morning Markets, From the Floor and Mid-session Europe.


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail