EmailBond Market Update
The market at 14:24 ET
| 10-Year: -07/32....%.... GNMAs: .... USD/JPY: 101.96.... EUR/USD: 1.2970 |
Moving the Market
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Retail Sales: Actual +0.1%, consensus -0.3%, prior -0.4% (revised -0.5%) Retail Sales ex-auto: Actual -0.1%, consensus -0.2%, prior -0.4% Business Inventories: Actual 0.0%, consensus 0.3%, prior 0.1% (revised 0.0%) |
Yen Sinks to Lowest Since October 2008
13-May-13 14:24 ET
10-Yr: -07/32..1.929%..
USD/JPY: 101.96..
EUR/USD: 1.2970
Yen Sinks to Lowest Since October 2008: The Dollar Index holds on session highs near 83.25 amid a rather uneventful session. Today’s action has held in a tight 20 cent range over the course of the session as action tests the highs from late March/early April.
- EURUSD is -20 pips at 1.2970 with today’s weakness pushing the single currency below its 200-day moving average (1.2995). The inability to regain the 1.3000 level sets up a test of 1.2800 support. Eurozone data includes ZEW Economic Sentiment, industrial production, and German ZEW Economic Sentiment. EU finance ministers will meet in Brussels.
- GBPUSD is -75 pips at 1.5285 as trade slides for a third session. Today’s selling has sterling testing support in the region with further help coming in the form of the 50-day moving average (1.5250).
- USDCHF is +20 pips at .9580 as action looks to be on track for its best close in eight months. The .9500 area will be in focus over the coming days as the ability to hold the support level will dictate whether nor not a test of parity develops.
- USDJPY is +35 pips at 101.95 as trade holds just off the overnight highs (102.15). Today’s gains developed after the G7 failed to single out Japan for weakening its currency to gain a competitive advantage.
- AUDUSD is -70 pips at .9945 as action holds at an 11-month low. Aggressive selling over the past six sessions has shaved close to 350 pips off the pair as trade slides toward .9800 support. A bounce is likely at some point, but if further weakness were to develop, the .9600 level should be watched closely.
- USDCAD is +10 pips at 1.0105 amid a rather lackluster session for the pair. Trade has seen just a 20 pip range throughout the U.S. session as a lack of news and data out of Canada has caused traders to look elsewhere for opportunity.
