Forex trading headlines from the European morning session 28 July
News:
- Russia’s Lavrov says US and EU sanctions will “not achieve their goal”
- Start hitting Russia where it really hurts says Merkel deputy
- Putin under pressure as Russia’s rich list get twitchy over sanctions
- Central Bank of Ireland raises 2014 GDP forecasts from +2.0% to +2.5%
Data:
Summer hols, lack of data and a general apathy has produced a lack-lustre start to the week which has seen the USD give up some of its gains albeit in tight ranges.
GBPUSD has largely been pinned around 1.6980 after an early dip from 1.6990 to 1.6975 then bounce to 1.6985 and EURUSD has found buyers in the dip to 1.3426 but still with sell interest in rallies above 1.3440.
USDJPY had a leg up from 101.75 on a 6 month high Nikkei close but has failed to make any further attempt above 101.90 and settled back around 101.80 while USDCHF gave up on 0.9050 to retreat to 0.9038
NZDUSD had another dip to 0.8530 early on which dragged AUDUSD down to 0.9391 from 0.9402 but both pairs have rallied to post 0.8562 and 0.9406 respectively capped by more offers. USDCAD has had a quiet session with a drift to 1.0800 having failed to breach 1.0825 only to run into more bids bringing a rally back t0 1.0814.
All focus seems to be on Wednesday’s FOMC decision and statement so we can only hope for livelier sessions before then.
