Forex news from the European morning session 27 February 2015
News:
- EU's Muscovici: Greece must meet its commitments with Eurozone partners and IMF
- Bundestag lower house approves extension of Greek bailout deal
- Varoufakis says he used "creative vagueness" in his list of reforms to EU
- Varoufakis says Greece is facing a financing gap
- Germany's Schaeuble says German parliament not facing an easy decision today
- Schaeuble asks the Bundestag to approve Greek deal extension
- BOE's Forbes says UK wage growth has turned around
- Japan's Amari says FY14 economic forecast was too optimistic
- Goldman Sachs says USD/JPY to 130 ... just give it 12 months
- EURGBP finds support but 0.7300 offers preventing further gains
- Option expiries 10am NY cut 27 Feb
Data:
- German import price index Jan mm -0.8% vs -1.1% exp
- Saxony CPI Feb mm +0.9%, yy +0.3%
- Hesse CPI mm +1.0% vs -1.0% prev
- Germany's Baden Wuerttemberg Feb CPI comes in at 0.0% vs -0.4% prior y/y
- February 2015 Italian HICP +0.1% vs -0.3% exp y/y
- Q4 2014 Greek final GDP -0.4% vs -0.2% prior q/q
- Portugal Q4 GDP final qq +0.5% as exp/prev
- February 2015 UK Lloyds business barometer 45 vs 52 prior
- Japanese construction orders Jan yy 27.5% vs 7.5% prev
- Nikkei 225 closes up +0.06% at 18,797.94
Stronger inflation data from German regionals and month-end EURGBP demand have both helped to give some support this morning but rallies have been readily sold into so far
EURUSD had an early look around 1.1200 again but on the data, German approval of extension and EURGBP we've been up to 1.1236 with EURGBP to 0.7298 from 0.7257 but the latter only to retreat back to 0.7270
EURJPY joined in with a move to 134.23 only to move back to 113.95 with USDJPY also failing to get back above 119.50 and EURUSD has dipped back below 1.1225
GBPUSD had support on the open around 1.5430 only to see a fall to 1.5385 on the EURGBP demand and then, hey presto, a bounce back to 1.5440 as 0.7300 held on a couple of attempts
CHF pairs have been quiet but USDCAD has seen a dip to 1.2468 from 1.2500 on firmer oil prices while AUDUSD has seen a gradual rise to 0.7834 from 0.7785 and NZDUSD joining it again to post from 0.7535 to 0.7568
German CPI,US GDP and housing data coming out later along with the latest Michigan Sentiment reading, along with options expiries in range and further month-end flows should all add up to a lively session to come
