Forex trading headlines from the European morning session 5 May
News:
- EU Commission highlights euro strength in latest economic assessment
- Ukraine tensions leading to some equity and gold action
- EU Commission to meet with Ukraine’s Yatsenyuk on May 13
- Bundesbank criticizes French PM’s comments on strong euro
Data:
- Eurozone producer prices March mm -0.2% vs -0.2% exp
- Eurozone sentix index May 12.8 vs 14.2 exp
- Italian GDP to rise 0.6% in 2014 and 1.0% in 2015
Well most in the UK anyhow but, hey, how could I possibly think of not lending the rest of you some moral support?!
It’s been very quiet though which is not surprising given that London still remains the largest financial trading centre. Throw Friday’s fun and games and Ukraine into the mix and you’ve got plenty enough reason for traders to keep a low profile.
GBPUSD has been 1.6865-75, EURUSD 1.3865-75 and USDCHF completing spoiling the sequence in a range of 0.8768-78.
USDJPY had a run up t0 102.03 from 102.92 on some yen-pair buying/profit-taking but has been pinned around 102.00 since with option expiries close by in focus
USDCAD has a massive expiry at 1.1000 today for $8bln (Bbg now reporting 5.8 bln, either way it’s significant) and that has drawn the prevailing price up to 1.0980 from the 1.0950 support area
AUDUSD and NZDUSD have also had a quiet session but with both pairs finding support at 0.9250 and 0.8650 respectively.
Hopefully our friends across the pond can help liven things up a bit.
