Forex trading headlines from the European morning session 9 July
News:
- ECB’s Coene says euro isn’t too strong
- ECB’s Coeure says they are not out of the woods
- Coeure: The issue of a strong euro is fully taken care of
- Praet: We are ready to act with unconventional measures if needed
- ECB’s Praet says latest policies need time to show results
- ECB’s Coeure says the UK leaving EU would be a shock
- US treasury sec Lew backs China’s Third Plenum reforms
- BOJ could cut economic forecasts – RTRS
- Abe adviser Honda says Japanese economy on track
- France’s economic recovery needs to be confirmed in the second half of the year says Noyer
- BRICS to launch their own development bank
- Russia expects Ukraine to start nicking gas in the Autumn
Data:
- UK Halifax house prices June m/m -0.6% vs -0.3% exp
- Greek inflation rises in June
- Nikkei closes down 0.08% at 15,302.65
No outstanding movers or shakers in the session and no clear USD sentiment either as we’ve had a mixed bag of limited price action
USDJPY had an early 15 point move higher to 101.70 as the Nikkei staged a late rally but USDCHF has struggled to make any gains and has lingered around 0.8925 after finding buyers in Asia below 0.8920
GBPUSD has drifted down to 1.7105 from 1.7130 helped by weaker house price data but that had limited immediate impact while EURUSD has also drifted off to 1.3609 but from only 1.3620 as EURGBP climbed from 0.7942 to test the 0.7960 resistance again.
AUDUSD and NZDUSD on the other hand have found a decent bid albeit not rallying dramatically with moves to 0.9407 from 0.9395 and 0.8810 from 0.8795, while USDCAD has limped along around 1.0670.
Plenty of rhetoric on the wires but little of consequence but with no data of note here or across the pond it’s hard to see what else can drive this market at a faster pace.
