Forex trading headlines from the European morning session 5 June
News:
- BOE leaves interest rate unchanged at 0.50% and no increase to QE
- BOJ’s Sato sees no need to adjust monetary policy now
- IMF says that containing China’s vulnerabilities must be a priority
- Schaeuble: EU must do everything to sustain economic growth
- EU’s Dijsselbloem says it’s not healthy that ECB expectations are so high
- Hype, bluster, fact and rabbits – what Draghi & Co can produce out of the hat
- What the banks are saying re ECB
- How effective will the ECB tools be?
Data:
- German industrial orders April mm 3.1% vs +1.3% exp
- Eurozone retail sales April m/m +0.4% vs +0.1% exp
- French ILO Q1 unemployment rate 10.1% vs 10.1% prev
- UK Halifax house prices May m/m +3.9% vs +0.7% exp
- Irish unemployment unchanged at 11.8% in May
- Irish Markit services PMI May 61.7 vs 61.9 prev
- Nikkei closes up 0.08% at 15,079.37
- Shanghai Composite Index closes up 0.79% at 2040.88
In a nutshell we’ve been shadow boxing with little of note apart from a quick GBP surge ahead of the ECB decision and presser coming up soon
Euro has generally been quiet with EURUSD pinned around 1.3610 afteran early dip to 1.3595, but with EURGBP having a quick dip to 0.8106 from 0.8118 sending GBPUSD up to 1.6793 from 1.6767 only to retreat to 1.6762 and 0.8116
USDJPY has been pinned around 102.45-55, AUDUSD has had another look at 0.9300 from 0.9285 while NZDUSD has also enjoyed a move through 0.8450 before stalling. USDCAD has drifted lower to 1.0925 as I type
Bring on the ECB
