20 Feb 2015
USD recovers its mojo – NAB
FXStreet (Barcelona) - David de Garis, Senior Economist, reviews the performance of the markets in the NA session.
Key Quotes
“The data flow was limited overnight. US jobless claims was probably the pick, pushing back down a little further in the February US payrolls survey week, suggesting a still strong labour market.”
“Oil prices are lower again for the session, but have recovered mid-session after the weekly crude oil inventory build proved to be less than some expected. The EIA reported that crude inventory rose 7.72mb to a record 425.6mb."
“In FX markets, the US$ has recovered its mojo after the night before’s FOMC Minutes inspired sell-off. Likewise, US Treasury yields have backed up modestly. They remain relatively impervious to continued US data disappointments, such as the Philly Fed Index’s shortfall last night.”
“The EUR/USD rallied for a while to 1.14 before easing back to 1.1360 this morning ahead of another meeting of Eurogroup finance ministers this evening.”
Key Quotes
“The data flow was limited overnight. US jobless claims was probably the pick, pushing back down a little further in the February US payrolls survey week, suggesting a still strong labour market.”
“Oil prices are lower again for the session, but have recovered mid-session after the weekly crude oil inventory build proved to be less than some expected. The EIA reported that crude inventory rose 7.72mb to a record 425.6mb."
“In FX markets, the US$ has recovered its mojo after the night before’s FOMC Minutes inspired sell-off. Likewise, US Treasury yields have backed up modestly. They remain relatively impervious to continued US data disappointments, such as the Philly Fed Index’s shortfall last night.”
“The EUR/USD rallied for a while to 1.14 before easing back to 1.1360 this morning ahead of another meeting of Eurogroup finance ministers this evening.”