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EUR/USD2014-09-12 18:44 UTC

Dollar gains following the retail sales data were short-lived, with EUR-USD moving to intra day highs of 1.2956 soon after the data. The liquidation of some long dollar positions was reported, with price action this week indicating the euro may be putting in a near term bottom. Solid bidding interest was seen into 1.2900. The pairing later ran up to highs of just shy of 1.29080, with continued short covering seen on the back of fairly sharp ... Read More 

XE Market Analysis

  • North American Edition2014-09-12 10:19 UTC

    The dollar has been mixed, with USD-JPY making a new six-year high of 1.6277 and AUD-USD a six-month low at 0.9050 amid continued dollar bloc underperformance due to softer commodity prices. EUR-USD and other pairings have remained stable, while Cable managed to edge out a fresh recovery high of 1.6277 following yet another poll that put the No for Scottish independence camp in the lead. EUR-USD has traded narrowly in the low 1.29s. Markets are looking ... Read More 

  • European Edition2014-09-12 07:20 UTC

    USD remains supported ahead of today's retail sales numbers, which are expected to add to arguments for a rate hike from the Fed ahead of next week's meeting. The pound is supported by a poll showing that supporters for Scottish independence are losing ground. Markets are pricing in a 60% chance that the Fed will hike rates by at least 50 bp by July 2015, and with BoJ and ECB still focused on supporting flagging economies, this will continue to support ... Read More 

  • Asian Edition2014-09-12 18:44 UTC

    FX trade was relatively quiet on Friday in N.Y., with the dollar trading on a mixed footing overall. Short covering supported EUR-USD, taking it to highs near 1.2980. USD-JPY held the 107 handle throughout, though struggled into 107.40. USD-CAD made a rune over 1.1090, as the soft commodity backdrop continued to weigh. On the economic front, U.S. retail sales beat forecasts though there was little market reaction. Michigan sentiment index improved as ... Read More 

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