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Forex pairs in this Article » EUR/USD, GBP/USD, USD/JPY
FXstreet.com (Chicago) – Market participants remain expectant of any possible solution to the US crisis and debt ceiling hard deadline approaching later this week. With “safe haven” currencies still stronger, the greenback registered losses across the board but Wall Street seems to pick up to hopeful thoughts.

In Europe, markets held on to potential developments in the US that never took place ending a journey with mixed results marking slight gains and losses – except UK with 0.32% advancements. On disappointing weekend in terms of expected effective negotiations over the weekend, the tone was off leading to losses in equities and greenback’s crosses.

After announcements by the White House of expected and ongoing “progress”, President Obama postponed a meeting set at 3 GMT between himself and congressional leaders to agree on an extension of the US debt ceiling limits and the halt for paralysis in the political system. Wall Street responded positively and printed gains with the Dow up 0.42%, the Nasdaq 0.62% stronger and the S&P500 higher 0.41%.

In terms of performance, the dollar continues subdued against most currency pairs despite attempts to breakthrough limits. Currency pairs gained the most after better than expected Chinese data, highly correlated with price action, favored and kiwi and the Aussie – up 0.58% and 0.29% respectively. The pound was also stretched 0.23% higher on quiet Monday session to start off the week. The euro also beat the greenback although no major volatility was perceived. Without bleeding against “safe haven” currencies, the yen strengthened minimally, 0.02% and the Swissy advanced 0.11% against the dollar.

Metals advanced throughout the session but gold remains below the $1,300 zone and trades around three-month lows around the $1,270 zone.
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