149
Currency Analyst since 2010

June 25: Asian session

US dollar retraced some gains yesterday after Dallas Fed President Richard Fisher said investors shouldn’t overreact to the central bank’s plan to slow bond purchases. Investors are looking forward to the release of US durable goods orders at 12:30 GMT, analysts expect that the growth of the indicator has slowed down.  

EUR/USD is consolidating in the $1.3100/50 area after last week’s decline. The single currency’s trading on the upside. GBP/USD closed the week’s opening gap yesterday and rose to $1.5450 today.

AUD/USD dropped to the $0.9200 support, but later edged a bit higher. NZD/USD touched $0.7700. Commodity currencies are under pressure as Chinese shares keep falling, pulling down most other Asian stock markets. On Monday Shanghai Composite index dropped by 5.3% (4-year high) to the levels below 2000. On Wednesday the index extends losses, falling by 4%. There are worries that China’s tight liquidity could threaten the nation’s economic growth. Yesterday China’s GDP forecast downgrade is increasing the concerns. USD/CAD is trading just above 1.0500 after peaking to 1.0556 yesterday.

USD/JPY is trading in the negative territory, supported by the 97.30 mark. USD/CHF recovered to 0.9335 following the yesterday’s drop. Today the SNB member Fritz Zurbrugg speaks in Lugano.

Scroll to top