Session Recap: Risk aversion + Bullish dollar

By FXstreet.com | July 29, 2014 AAA

FXStreet (San Francisco) - The US Dollar remained to trade in positive tone again on Tuesday as risk aversion fueled the Greenback versus Sterling and the Yen.

The EUR/USD closed 0.23% negative on the day at 1.3410 after testing the 1.3400 area. Market will be focused on Wednesday as the economic calendar is busy with he ADP report, the GDP data and later on hte day the FOMC meeting and decision on monetary policy.

"As for the EUR/USD, market sentiment is still strongly bearish, with the hourly chart showing indicators turning flat in oversold levels, anticipating some consolidation rather than a reversal in the short term." comments Valeria Bednarik from FXStreet.

The GBP/USD resumed its downtrend after Monday's pause. The Cable fell to 1.6930 and now it is closing at 1.6945. The USD/JPY jumped above the 102.00 area and now it is closing at 102.10.

Main headlines in the American session

">May 2014 Case/Shiller home price index 9.3% vs 10.0% exp y/y

US: Consumer Confidence soars to 90.9 in July

US stocks close negative amid Ukraine fears

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