XE Market Analysis: Asia – Feb 07, 2017

The dollar started the N.Y. session on a stronger footing, though squandered its gains through the remainder of the morning. The December trade deficit was slightly narrower than forecast, but had little impact on markets. Wall Street too started out strong, though fade by mid-session. EUR-USD bottomed at 1.0663 before printing 1.0700 highs, as USD-JPY faded from 112.58 to 111.96 lows. USD-CAD was supported by softer oil prices, though a larger than expected Canada trade surplus offset, limiting session highs to 1.3188. Cable meanwhile, recovered from 1.2360 to post 1.2497 highs.

Source: XE news feed
XE Market Analysis: Asia – Feb 07, 2017