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18 Apr 2013
Session Recap: BoC on hold; Weidmann hurts the Euro
FXstreet.com (Barcelona) - The US Dollar Index was stronger across the board, finishing up an impressive 1.02% at 82.73. Risk assets again stumbled, with both the Crude Oil WTI and Copper both trading sharply lower on the day.
After rising sharply yesterday, US Equities surrendered previous gains with the S&P 500 closing down 1.39% at 1552.00.
Economic news during the US Session was light as the Federal Reserve released its latest Beige Book minutes which did not seem to have much of an effect on the markets.
Reports were that the Euro started its initial decline after a Dow Jones news wire reported the ECB’s Weidmann commenting, “The ECB mad adjust rates if new information warrants it.”
According to Adam Button of Forex Live, “The comment from Weidmann tipped over the teetering euro.”
Main headlines in the US session
- Canada March house prices rose +0.4% on month
- Bank of Canada steady at 1%; maintains hawkish bias, cuts outlook
- Buba’s Weidmann: ECB may adjust rates if new information warrants
- Weidmann opens the door to an ECB rate cut and foresees a lost decade in Europe
- BOC’s Carney says rates to stay low but next move still most likely up
- EUR/USD falls 100 pips on Buba’s Weidmann interview
- AUD/USD hits 1-month low
- Arrest made in Boston bombing – reports
- Egan-Jones downgrades Germany to A from A+; Outlook negative
- Nikkei reports: BOJ to raise CPI forecast, may set spring 2015 goal for 2% inflation target
- USD/JPY jumps above 98.00 on BoJ CPI inflation talks
After rising sharply yesterday, US Equities surrendered previous gains with the S&P 500 closing down 1.39% at 1552.00.
Economic news during the US Session was light as the Federal Reserve released its latest Beige Book minutes which did not seem to have much of an effect on the markets.
Reports were that the Euro started its initial decline after a Dow Jones news wire reported the ECB’s Weidmann commenting, “The ECB mad adjust rates if new information warrants it.”
According to Adam Button of Forex Live, “The comment from Weidmann tipped over the teetering euro.”
Main headlines in the US session
- Canada March house prices rose +0.4% on month
- Bank of Canada steady at 1%; maintains hawkish bias, cuts outlook
- Buba’s Weidmann: ECB may adjust rates if new information warrants
- Weidmann opens the door to an ECB rate cut and foresees a lost decade in Europe
- BOC’s Carney says rates to stay low but next move still most likely up
- EUR/USD falls 100 pips on Buba’s Weidmann interview
- AUD/USD hits 1-month low
- Arrest made in Boston bombing – reports
- Egan-Jones downgrades Germany to A from A+; Outlook negative
- Nikkei reports: BOJ to raise CPI forecast, may set spring 2015 goal for 2% inflation target
- USD/JPY jumps above 98.00 on BoJ CPI inflation talks