Forex trading headlines from the European morning session 17 July
News:
- Russia plans to take counter action over latest US sanctions which will be “painful” for Washington
- ECB’s Hansson says asset purchases not imminent or needed now
- ECB to give banks preliminary stress test findings in September/October
- BOE’s Cunliffe say global regulators looking at hedge funds
- Japanese govt raises overall economic view for first time in 6 months
- Japan’s Amari says he doesn’t expect capex to continue falling
- PBOC: Don’t just blame us for global volatility
- Italy’s Padoan says govt room for manoeuvre is more restricted in short term due to uncertainties over growth
Data:
A quieter session than we have seen lately given the lack of data and any risk rhetoric but there’s a still been a bit of opportunity for the intra-day traders
Cable saw an early dip from 1.7135 to 1.7114 as buyers emerged on EURGBP from 0.7890 to rally to 0.7912 which also gave some additional support to EURUSD which has failed to rally but seems camped above 1.3520 for the moment with the large 1.3500 barrier casting its shadow. The pair has sat around 1.3530-35 almost for the entirity of the session. GBPUSD has since dribbled lower to 1.7107
Other euro pairs have mostly remained on the back foot with EURJPY mostly around 137.30 having found the bids at 137.20 a step too far but simialry no sign of a rally either.USDJPY has been pinned around 101.48 for the most part.
USDCHF banged its head against the 0.8985 offers again but retreated from the fray to camp at 0.8975 while USDCAD has found a few bids in the dip but unable to break 1.0750 again as I type.
AUDUSD and NZDUSD have been tight too but some AUDNZD selling has seen the former rally to 0.9382 while the kiwi has drifted off to test the 0.8680 support area again having failed to hold above 0.8700
US h0using starts and weekly jobless claims hopefully will have impact but the market does seem poised to liven up with USD demand the sentiment so far.
