North American Summary and Highlights 13 Sep
Overview - In a generally quiet session the USD was slightly softer.
North American session
In a quiet session the USD marginally extended its European slippage, with EUR/USD rising to 1.1770 though USD/JPY was little changed near 147.40. USD/CAD broke below 1.38.
US Data saw September’s Empire State manufacturing survey falling to -8.7 from a positive 11.9 while July Canadian manufacturing shipments exceeded expectations with a rise of 2.5%. Neither played a noticeable part in the day’s FX movement.
European morning session
The USD was generally a little weaker through the European morning. EUR/USD gained 15 pips to 1.1745, and USD/JPY fell 10 pips to 147.35. GBP was slightly the best performer, with EUR/GBP dropping around 7 pips o 0.8640. USD/CAD was marginally lower but AUD/USD was unchanged.
There was very little news of any note. Datawise German WPI and Swiss PPI for August were both weaker than expected on the month, both dropping 0.6%. The Eurozone trade surplus was a little larger than expected at EUR12.4bn in July.