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1 May 2013

Session Recap: The USD falls on non-event FOMC

FXstreet.com (San Francisco) - The FOMC confirmed that in this occasion its monetary policy meeting was a non-event. The Committee voted to maintain the Fed's assets purchases at $85 billion per month and signaled it is prepared to either "increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes".

A bath of weaker data in the US such as a ISM Manufacturing PMI, the construction index and the, more important, ADP employment report undermined the investor's confidence. US equities market collapses too with the major indexes falling around 1% on the first day of May.

The EUR/USD traded above the 1.3200 level but pair failed to break above 50% fibo level and currently it is trading at 1.3185; the GBP/USD tested the 1.5600 frontier and the USD/JPY declined to touch 97.00 prices.

Main indexes in the American session:

US: ADP Employment Change at 119K in April

Marki PMI 52.1; close to expectations

US: ISM Manufacturing PMI disappoints, at 50.7 in April

US: Construction Spending falls -1.7% in March

Commodities Brief: Gold and oil suffer amid risk aversion

Wall Street falls strong after FOMC
May 1, 2013

Wall Street falls strong after FOMC

The US stocks market closed lower on Wednesday as investors were disappointed by the Federal Reserve decision decision to remain unchanged in its interest rate and monetary policy. All three major indexes opened May with losses.
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May 2, 2013

Forex Flash: AUD/USD, risks to break 1.02-06 range skewed to the downside - Societe Generale

According to Societe Generale Kit Juckes, "over-stretched valuations have been a barrier to further gains for higher-yielding currencies, but as soon as the US rate cycle turns the dollar will embark on a long-term re-pricing... "
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