A headline driven evening, but the bottom line is that we are still waiting for something concrete out of Cyprus.
We had a few attempts at taking out stops below 1.2980 in EURUSD, but every dip got bought up fairly quickly and the session’s range was been 1.2885/1.2930. Bids reported at 1.2860 and 1.2850. GBPUSD traded sideways within 1.5160/85, while a similar pattern was seen in the Swiss franc with the EURCHF trading at 1.2210/30.
The USDJPY traded through 95.00 shortly after the London fix, which started a minor stop-hunting period and we printed a low at 94.56. We finish 40 points higher, but haven’t been able to trade above 95.00. EURJPY followed to a low at 122.05, but quickly traded back up to 122.50 where we remained for the later part of the session.
AUDUSD had a quick look above 1.0450 (1.0459) but finished at 1.0440. We closed well above the daily Ichimuko cloud at 1.0413 and I think the cross has further potential to the upside. NZDUSD came off its highs seen in European hours but still closed at 0.8315 - up 100 points for the day driven by the strong GDP figure.
After the pop seen in metals on the Comex opening, gold and silver were mainly range bound throughout the session. XAUUSD 1613.50/1616.50 and XAGUSD 29.1550/29.3000
In the emerging markets arena, Hungary was once again in focus and with S&P changing its outlook to negative EURHUF, it spiked a big figure to 306.50.
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Quick Summary Of The New York Session
Published 03/22/2013, 06:42 AM
Updated 03/19/2019, 04:00 AM
Quick Summary Of The New York Session
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