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11 Dec 2014
US Session: Global risk off shuns the buck
FXStreet (Guatemala) - The US session saw the dollar give back its gains as we approach the final weeks of the year and tensions are high.
Oil was the catalyst with inventories coming in higher and oil investors coming out of oil related stocks and WTI dropping over two bucks. A flight to safety left the dollar on the bench when the Yen broke lower still and the EUR up to test recent highs again.
EUR/USD fulfilled the bulls psychological level and exceeded the 1.2400 mark and was up to test the 1.2450 level for a third attempt of recent sessions.
USD/JPY was choppy but overall the yen was collecting points in the risk off climate and continued to unwind. 119 is left behind and lower lows have been set and marked down in 117 handle territory, exceeding 7 day lows. Much will now depend on the chatter running up to Japans weekend snap elections.
NZD/USD rallied in a spike on the charts as the RBNZ came with a hawkish statement that took the pair a cent and quarter higher. The Central Bank stated that the OCR will need to go up along with a bullish outlook for economy in general.
Key events:
EIA Crude Oil Stocks change much higher than expectation
RBNZ left rates on hold at 3.50% but came over hawkish
S&P 500 weighed on by oil losses
Oil was the catalyst with inventories coming in higher and oil investors coming out of oil related stocks and WTI dropping over two bucks. A flight to safety left the dollar on the bench when the Yen broke lower still and the EUR up to test recent highs again.
EUR/USD fulfilled the bulls psychological level and exceeded the 1.2400 mark and was up to test the 1.2450 level for a third attempt of recent sessions.
USD/JPY was choppy but overall the yen was collecting points in the risk off climate and continued to unwind. 119 is left behind and lower lows have been set and marked down in 117 handle territory, exceeding 7 day lows. Much will now depend on the chatter running up to Japans weekend snap elections.
NZD/USD rallied in a spike on the charts as the RBNZ came with a hawkish statement that took the pair a cent and quarter higher. The Central Bank stated that the OCR will need to go up along with a bullish outlook for economy in general.
Key events:
EIA Crude Oil Stocks change much higher than expectation
RBNZ left rates on hold at 3.50% but came over hawkish
S&P 500 weighed on by oil losses