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Forex pairs in this Article » EUR/USD, USD/JPY
FXstreet.com (San Francisco) - Then, the Fed will start its QE tapering in September... Investors seem to be thinking so after the latest better than expected US GDP and Jobless claims. Data is good for economy but bad for stimulus program so the USD traded higher today against its major competitors and Wall Street performed its second positive day in row: Posting gains... but limited.

On fundamental, jobless report posted strong figures in the last week adding the hopes on strong Non Farm payrolls in August. Meanwhile, the US Q2 GDP was revised up to 2.5%, well above expectations and Syria is looming market as investors are concerned on a imminent US action. The result was clear, stocks and the Greenback were up, but oil and gold down.

The EUR/USD extended losses for second day and collapsed on Thursday to the 1.3220 tough zone. The euro is closing at 1.3235 against the USD. The GBP/USD traded bearish for third day just around 1.5500, the Sterling is holding levels above the 1.5420 area. The same against the Japan Yen, where the GBP/JPY has recovered more than a half of the Tuesday sell-off.

The USD/JPY advanced for second day but always in the recent days’ range of 97.00-99.00. Today the pair closed at 98.30. The USD/CAD recovered the mojo and climbed to 1.0540, highest in the current week and set to test August maximums. The AUD/USD traded in consolidation mode just above 0.8900, there are no additional stories than bearish gold and Aussie and pressure from Chinese and EMEA news.

Oil prices collapsed 1.93% on the day after failing break above the 110.00 dynamic resistance. The Gold declined on Thursday after the Wednesday's peak to 1,433, highest since May 14. The XAU/USD finished the day at 1,407, its first negative day of the last six.

Main headlines in the American session:

US: GDP expanded 2.5% YoY in Q2

US: Initial Jobless Claims fell to 331K

Canada: Industrial Product Price rose 0.3% in July

IMF says no fresh discussions on third bailout for Greece but failing economy makes them inevitable

IMF says there have been no discussions on a new program for Greece

Wall Street bounces on better than expected US GDP
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