Currencies: US Dollar Index (DXY) Higher On FOMC Minutes
- EUR/USD is -20 pips at 1.3735 as trade pressed session lows. The pair held little changed ahead of the FOMC minutes before sellers took control following the release. Participants continue to see the 1.3700 area as support into Thursday’s release of Flash Manufacturing and Services PMI data from across the region.
- GBP/USD is +5 pips at 1.6685 as action hovers little changed. Cableran into some early selling following the morning’s uptick in the unemployment rate to 7.2% (7.1% past), but saw a steady bid throughout much of US trade erase those losses. Near-term support stands in the 1.6600 area. Britain’s CBI Industrial Orders are due Thursday.
- USD/CHF is +20 pips at .8890 as buyers take control for the 1st time in 5 days. Early selling dropped the Suisse to its lowest levels of Y 2014 at .8855, but trade reversed course and is pressed the highs. The 1st level of resistance stands at .8940.
- USD/JPY is +5 pips at 102.40 as trade tests session highs. A quiet day for news and data out of Japan has seen trade trapped in the 102.00/102.50 area.
- AUD/USD is -30 pips at .8995 as sellers took control after the FOMC minutes. The selling has dropped the Aussie to its lowest mark in 3 days, and has turned focus towards support at .8950. China’s HSBC Flash Manufacturing PMI will cross the wire tonight.
- USD/CAD is +130 pips at 1.1075 as Wednesday’s bid has erased 10 days of action. The pair was aided by Canada’s disappointing wholesale sales (-1.4% M-M actual Vs. -0.5% M-M expected) and Canadian Natural Resources’ $2.8-B acquisition of Devon Energy Nat Gas assets.
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