Article / 09 August 2016 at 23:41 GMT

US Market Wrap: Greenback gives back some gains

FX Consultant / IFXA Ltd


  • 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
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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.


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