North American Summary and Highlights 5 December

European and North American sessions

After a quiet morning in Europe the USD lost some ground early in North America, EUR/USD rising to 1.0585 from 1.0530 and GBP/USD rising to 1.2755 from 1.2715. While the EUR and GBP gains were sustained, a similar early dip in USD/CAD was reversed, though both AUD and CAD ended slightly firmer. USD/JPY settled near 150 after having risen to 150.70 from 149.70.

There was not much news. US initial claims bounced to 224k from 215k but remain low and the data could have been influenced by seasonal adjustments in the Thanksgiving week.