Forex trading headlines from the European morning session 30 July
- China’s Politburo to keep steady economic growth in H2 2013
- Nikkei closes up 1.53% at 13,869.82
- SNB reports consolidated H1 loss of CHF 7.3 bln
- UBS to repay SNB bail-out loan in Q4
- Shanghai comp index closes up 0.7% at 1990.06
- Former MPC member Julius says UK growth rapid enough for escape
- Japan does not see Chinese economy in significant deterioration
- Spain looking to climb out of recession
Another mixed bag of a morning with no real trend but dominated by the usual month-end EURGBP buying.
The pair has climbed to 0.8676 dragging EURUSD up to 1.3279 and GBPUSD down to 1.5296 before a little retreat across all three pairs. EURJPY has stuggled to hold gains above 130.00 as USDJPY similarly struggles to hold above 98.00 and is heading down toward the Asian lows of 97.85 as I type.
EURUSD is still reported to have some decent barrier option interest at 1.3300 despite a sizeable chunk rolling off yesterday as we posted.
The aussie dollar has been in consolidative mode after its rapid fall in late Asia markets following the weaker data and bearish comments from RBA gov Stevens. AUDUSD has tested strong support at 0.9050, reported to be of Chinese derivation, but has since rallied to 0.9082 after earlier sell interest from Middle East names had capped a previous attempt. GBPAUD has fallen from the heady heights of 1.6945 to 1.6860 on a combo of AUD buyers and GBP sellers.
Nothing by way of data or rhetoric again to make any impact so we can expect another scrappy US session ahead of the main events later this week kicking in with US Q2 GDP tomorrow.
In the meantime though, as always, we should expect the unexpected. Although quite where it’s coming from is anyone’s guess!
