Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2024-03-05T20:51:19.000Z

North American Summary and Highlights 5 Mar

byDave Sloan

Senior Economist , North America
2

Overview - After a quiet European morning the USD slipped on US data, though losses were largely reversed with the exception of USD/JPY.  

North American session

The USD traded a little lower through the North American session, with the JPY the best performer. USD/JPY lost around 45 pips to 149.85 after hitting a low of 149.70. EUR/USD spiked above 1.0870 on the date but gradually slipped back to near 1.0850, barely above pre-data levels. Gains in AUD/USD and GBP/USD also faded while USD/CAD ended back near the day’s highs around 1.36. 

USD weakness was driven by softish US data, with the ISM services index slightly on the weak side of expectations, although the details were mixed, with new orders and busuness activity higher, and employment and prices slipping. 

European morning session

A very quiet European morning session saw EUR/USD oscillate around 1.0850 and USD/JPY hold close to 150.40. AUD managed a modest recovery from overnight losses, and EUR/NOK also slipped around 3 figures lower, while EUR/CHF continued to edge higher. 

There was little market moving news. Datawise, we saw weak French industrial production, down 1.1% in January against a consensus of a 0.1% decline. Eurozone services and composite PMIs were revised a little higher, with the composite up to 49.2 from 48.9 originally reported. UK revisions went the other way, with the composite down to 53.0 from 53.3. Eurozone PPI was weaker than expected, down 0.9% m/m against a consensus of -0.1%.  

Continue to read the article for free
Login

or

or

Topics
FX Highlights
Foreign Exchange
American Close

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image