Calmness and thin trading still dominates markets in the U.S session, currencies are still wondering in very narrow ranging despite the release of some medium effect bad fundamentals from the U.S. economy.
The start was with the weekly jobless claims which declined to 381K from 384K last week, while the expectations were to see a decline to 375K, and that what made the difference.
The most waited releases today, the Philly Fed Manufacturing index sank way more than expected and even than the previous to -17.1, while expectations where to see a decline of 10 after a decline of 15.6 in May. Leading indicators a somehow lagged figure for the economy increased by 0.1%.
The news did not leave much of an effect on the currencies who chose to keep their supports and resistances intact for no major triggers are to break them, Euro maintained its very early high at 1.5585 and did not sink below 1.5465 as the lowest trading point for the day.
The British pound remains the biggest winner today, after reaching to a high of 1.9725, maintaining its early morning low at 1.9575, and settling around 1.9700.
The Japanese currency was the most stable amongst all, ranging between 108 and 107.70 after reaching a low of 107.40 in the morning time, the currencies does not look like it’s going to be able to break any of those levels till a trigger comes along and makes it.
Markets are still waiting Mr. Paulson speech today and see if it carries any thing new about the economy, as fundamentals for this week are done, especially in the U.S. markets
The start was with the weekly jobless claims which declined to 381K from 384K last week, while the expectations were to see a decline to 375K, and that what made the difference.
The most waited releases today, the Philly Fed Manufacturing index sank way more than expected and even than the previous to -17.1, while expectations where to see a decline of 10 after a decline of 15.6 in May. Leading indicators a somehow lagged figure for the economy increased by 0.1%.
The news did not leave much of an effect on the currencies who chose to keep their supports and resistances intact for no major triggers are to break them, Euro maintained its very early high at 1.5585 and did not sink below 1.5465 as the lowest trading point for the day.
The British pound remains the biggest winner today, after reaching to a high of 1.9725, maintaining its early morning low at 1.9575, and settling around 1.9700.
The Japanese currency was the most stable amongst all, ranging between 108 and 107.70 after reaching a low of 107.40 in the morning time, the currencies does not look like it’s going to be able to break any of those levels till a trigger comes along and makes it.
Markets are still waiting Mr. Paulson speech today and see if it carries any thing new about the economy, as fundamentals for this week are done, especially in the U.S. markets