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5 Aug 2013
Session Recap: USD strengthens after ISM services but gains short-lived
FXstreet.com (Córdoba) - It was another summer session in the FX market, with the US ISM services PMI as the main feature.
The US ISM services PMI rose to 56.0 in July, exceeding expectations and previous month reading, boosting the greenback, although temporarily, across the board.
EUR/USD managed to trim losses during the afternoon trade and hovers around 1.3250 after hitting a low of 1.3232 in the wake of strong US data, while USD/JPY resumed the downside following a short-lived bounce and dropped to a low of 98.30.
Meanwhile, the GBP/USD remains among the best performers, trading above 1.5350, underpinned by UK services PMI which reached a 6-year high of 60.2 in July. Commodity currencies are slightly higher, except for the NZD/USD which is presently around 0.7800, still attempting to fill the bearish opening gap.
Main Headlines in America:
US equities pull back at opening, S&P held over 1700
Berlusconi backs Italy's coalition government after court upholds his conviction for tax fraud
US: ISM Non-Manufacturing PMI rises more than expected in July
Precious metals trading at intraday lows, gold touching support at 1300.00
Fed’s Fisher weighing on markets
The US ISM services PMI rose to 56.0 in July, exceeding expectations and previous month reading, boosting the greenback, although temporarily, across the board.
EUR/USD managed to trim losses during the afternoon trade and hovers around 1.3250 after hitting a low of 1.3232 in the wake of strong US data, while USD/JPY resumed the downside following a short-lived bounce and dropped to a low of 98.30.
Meanwhile, the GBP/USD remains among the best performers, trading above 1.5350, underpinned by UK services PMI which reached a 6-year high of 60.2 in July. Commodity currencies are slightly higher, except for the NZD/USD which is presently around 0.7800, still attempting to fill the bearish opening gap.
Main Headlines in America:
US equities pull back at opening, S&P held over 1700
Berlusconi backs Italy's coalition government after court upholds his conviction for tax fraud
US: ISM Non-Manufacturing PMI rises more than expected in July
Precious metals trading at intraday lows, gold touching support at 1300.00
Fed’s Fisher weighing on markets