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Euro in New York

Posted by Joseph Trevisani on Oct 22, 2014 4:27:00 PM

The euro opened the US session at 1.2698 (8:30 am) after trading in a 1.2681 to 1.2740 range in Tokyo and London. 

US CPI for September  released at the open was slightly stronger than forecast (0.1% vs 0.0%) and much stronger than August's -0.2% and it kicked the euro down to 1.2677 immediately. 

That fall set the tone for the session, with each rally taken over by sellers as soon as the upward motion stalled, in quiet non-demonstrative action.  After dropping to 1.2659, it rallied to 1.2680, only to drop to 1.2652 in the following hour.  The next top at 1.2667 was followed  by 1.2649, then 1.2663  followed by the day's low at 1.2638 mid-way through the afternoon. The euro closed at 1.2648.

The euro mimicked the equites which also drifted slowly lower in the afternoon unable to sustain the morning's short-lived rallies. The Dow finished off 153 points at 16,461.



Charts: Bloomberg

eur min oct 22

indu min oct 22



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