XE Market Analysis: Asia – Dec 30, 2016

Overnight dollar weakness continued into the last N.Y. session of the year, leaving EUR-USD over 1.0550, and USD-JPY near 116.75. Cable managed seven-session highs near 1.2390, while USD-CAD posted six-session lows of 1.3426. The last data release of the year, the Chicago PMI, was weaker than expected, and dented the dollar slightly. Treasury yields moved marginally lower, while Wall Street ended the year with moderate losses.[EUR, USD]EUR-USD ranged between 1.0526 and 1.0566 through the N.Y. session, well off its 1.0654 spike seen during Asian hours. That move came on an ultra-thin year-end market, coupled with reported algorithm driven buy, and…

Source: XE news feed
XE Market Analysis: Asia – Dec 30, 2016