North American Summary and Highlights 26 Feb
Overview - A mostly quiet day for the USD saw EUR/JPY making gains.
North American session
The USD moved modestly higher through a quiet North American session, though much of this was reversed with a late USD recovery. The AUD lost the most ground, dropping around 15 pips to 0.6540. GBP/USD was also slightly lower, but there was not much movement in EUR/USD or USD/JPY. USD/CAD slipped around 20 pips to 1.35. UST yields advanced while equities were subdued.
January new home sales at 661k were up 1.5% to follow December’s 7.2% increase though the two straight gains did not fully erase the two straight declines that preceded them, and the data is on the low side of expectations. Otherwise, there was little news.
European morning session
EUR/USD and particularly EUR/JPY made gains through the European morning session. EUR/USD edged up to 1.0845 from an open around 1.0820, while EUR/JPY gained more than half a figure to 163.40, with USD/JPY up 20 pips to 150.65. There was no news of any real note, and also not much movement in yields or equities, although US equity futures were slightly higher.
Other currencies were mixed against the USD. The EUR made general gains, with EUR/GBP rising 10 pips, but GBP/USD rose slightly, while AUD/USD was modestly lower. EUR/CHF was little changed with SNB sight deposits recording a small rise in the latest week.