Forex trading headlines from the European morning session 26 August
News:
- Putin and Poroshenko due to meet today
- Ukraine says fighting in Novoazovsk continues
- Tass reports that captured Russian servicemen had “crossed border by mistake”
- Japanese government maintains overall economic view
- Scotland’s Salmond repeats his desire to keep the pound
- Barclays looking for cable rally
- Gold regains some gloss
Data:
- UK BBA mortgage approvals July 42,792 vs 44,065 exp
- Irish Q2 unemployment SA rate falls to 11.5%
- Nikkei closes down 0.59% at 15,521.22
Little change in prices in the absence of any key data and in most cases the absence of any real idea where we’re going next as markets continue to digest the Jackson Hole fall-out
GBPUSD tried again, and failed, to get through 1.6600 and early highs of 1.6595 became lows of 1.6566 as bids at 0.7950 on EURCHF once again came into play.
EURUSD looked perky early on but failed at 1.3215 ahead of decent offers above 1.3220 and has since been back to 1.3190 with the euro generally finding support in the dips still. EURJPY has held onto 137.00 while USDJPY drifted back to test the support at 103.70-75 before bouncing again to 103.90.
USDCHF has been largely pinned around 0.9150, still in its 0.9135-85 recent range, despite reports yesterday of SNB interest on the EURCHF bid at 1.2060 producing tiny bounce to 1.2085 from 1.2075
USDCAD has drifted off to 1.0962 as I type from 1.0975 having once again failed at 1.1000 and AUDUSD has been supported in the dips again but caught in cross play moves while NZDUSD remains under pressure having failed to advance through offers at 0.8350
We can only hope that US durable goods shake things up a little.
