North American Summary and Highlights 16 Mar
Overview - The USD was generally softer as oil corrected from early highs above $100.
European and North American sessions
The USD lost some ground as oil corrected off highs above $100 and equities advanced. EUR/USD picked up to 1.1520 from 1.1420. USD/JPY losses were more moderate, to near 158 from 159.60 seeing EUR/JPY above 183 from a low below 182 while EUR/CHF advanced to .9065 from .9035. EUR/GBP gains were marginal, with GBP/USD reaching 1.3340 from 1.3240.
AUD/USD reached .7075 from .70 while USD/CAD slipped to 1.3680 from 1.3715. USD/CAD losses briefly corrected after February Canadian CPI came in lower than expected at 1.8% from 2.3%. US data had limited impact, March’s Empire State manufacturing survey slipping to -0.2 from 7.1, February industrial production rising a modest 0.2% and March’s NAHB homebuilders’ index at 38 from 37.