Forex trading headlines from the European morning session 23 June

News:

Data:

It’s been a gentle start to the week but once again a session that’s provided some opportunity for the intra-day traders

EURUSD and GBPUSD both started with a biddish tone at 1.3610 and 1.7040 but with little further buying interest European traders were quick to start selling and we’ve chewed our way down to 1.3575 and 1.7015 before finding a few buyers again

Weaker than expected PMI data had helped the euro sellers but EURGBP has held support lines around 0.7975 again while EURJPY still trades tightly with decent bids and offers prevailing. USDJPY had a little run lower to 101.82 from 101.92 as Nikkei futures dipped but still no serious challenge as yet on the bids at 101.70 and below.

The loonie had another decent session with USDCAD posting new recent lows of 1.0716 as fin min Oliver dimissed any probs with inflation and hinted that rates were likely to edge up over the next few years. Bids into 1.0700-1o have provided a decent platfrom though for a bounce to 1.0733 as I type

The aussie $ has held its Asian gains with AUDUSD supported at 0.9430 but still finding the barrier at 0.9450 a step too far while NZDUSD similarly still has offers at 0.8750 providing a cap.

A less than exciting start to the week then but a few pips to be had nonetheless