FX news for US trading May 12, 2015:
- March 2015 US JOLTS job openings 4994k vs 5108k exp
- Fed's Williams: Favors gradual Fed rate rises starting 'a bit earlier'
- OPEC sees global oil demand growth to 1.18mbpd vs 1.17mbpd
- IMF confirm that Greece pony'd up the money
- BHP Billiton capex cut a sign of where spending will suffer (eventually)
- ECB raises Greek ELA ceiling by €1.1bn
- April 2015 US NFIB small business optimism index 96.9 vs 96.0 exp
- Germany's Schaeuble says improvement in Greek talks climate not matched by substance
- Gold up $10 to $1193
- WTI crude up $2.03 to $61.27
- US 10-year yields down 3 bps to 2.25% after rising as high as 2.36%
- S&P 500 down 6 points to 2099
- AUD leads, USD lags
The euro was star in Europe and Asia but as the bond market turned it began to give up gains. From a high of 1.1275, it faded back to 1.1213 with a series of lower highs in US trading. It's all about bond and bunds at the moment as they dumped and rebounded.
USD/JPY also faded in a choppier move down to 119.83 from 120.20 in early European trading. Falling Treasury yields after the early spike weighed and a rebound in stocks did nearly-nothing to buffer the fall.
The pound remained perky in a sign that it's still all about the election. That said, there was some selling after a minor double top near 1.5700 sent the pair down to 1.5666. It's been a great run since election night.
The Canadian dollar roared on a $2 rally in oil prices. That sent USD/CAD toward 1.2000 in the early going from 1.2100 in Asia. The big figure held for a period but eventually gave way down to 1.1979. A late bounce pushed it back to 1.2009.
The Australian dollar was equally perky but couldn't crest over 0.8000 and faded back to 0.7980. The late news from the RBNZ briefly weighed.
