Currency Analyst since 2010

May 30: Asian session

USD eased ahead of American data on Q1 economic growth (12:30 GMT), unemployment claims and pending home sales. The greenback failed to rally even as comments from Boston Fed President Rosengren were more hawkish then most anticipated.

EUR/USD rose to levels around $1.2970. The EU softened its demands for austerity on Wednesday when it gave France, Spain and 4 other member states more time to bring their deficit levels under control so that they can support their ailing economies.

GBP/USD recovered to $1.5170. USD/CAD slid to 1.0340. Loonie strengthened as outgoing Bank of Canada Governor Mark Carney left interest rates unchanged and retained his warning they could rise as economic growth progresses. USD/CHF extended the yesterday’s losses and slipped below 0.9600.

USD/JPY had a volatile session, extending losses to 100.60. According to BoJ’s Chief Kuroda, data suggests inflation expectations are rising. Japan will release a bunch of important data today at 23:30 GMT, including the CPI figures.

AUD/USD recovered to $0.9700. Australian dollar had a positive reaction on building approvals and 2013/14 planned CAPEX figures. NZD/USD trades slightly above $0.8100 after having touched $0.8160 yesterday. The RBNZ Governor Graeme Wheeler pushed NZD down by saying kiwi was ‘significantly overvalued’ and that he’s prepared to scale up intervention if it looks like it will work.

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