Forex trading headlines from the European morning session 5 Sept
News:
- UK’s TUC express renewed concerns over wage growth
- BOJ monthly report see some weakness in ouput for the time being
- ECB’s Liikanen says measures are “a good fit” for Finland
- SNB forex reserves Aug CHF 453.8 bln vs 455.8 bln exp
- Is France about to tip over as Hollande’s approval rating drops to 13% amid accusations of doping his girlfriend
Data:
- Q2 2014 Eurozone GDP flash 0.0% vs 0.0% exp q/q
- German industrial production July sa m/m +1.9 % vs +0.4% exp
- August 2014 BOE/GFK NOP 12 month inflation expectations 2.8% vs 2.6% prior
- Swiss Q2 industrial output y/y WDA +3.1% vs +1.5% exp
- French consumer confidence Aug 86 vs 85 exp
- Nikkei closes down 0.05% at 15,668.68
With all eyes on the US NFPs at 12.30 GMT we’ve seen a bit of euro buying as traders book some profit after the post-ECB falls
EURUSD has climbed from 1.2930 to 1.2964 but decent resistance awaits around 1.2970 and we’re back to 1.2955 as I type. EURJPY has chewed its way higher to 136.30 from 136.10 but tempered by a drift back in USDJPY from 105.30 to 105.11.
EURGB has posted highs of 0.7946 from 0.7925 which in turn has put a cap on cable shoving it back down to 1.6312 from 1.6332
USDCAD has largely been pinned around 1.0880 after failing to get back above 1.0900 while AUDUSD continues to attract some decent cross interest keeping it above 0.9350 but finding further gains a step too far for the moment. NZDUSD failed to rally back above 0.8300 with AUDNZD buying provding a cap buts edging back of its lows from 0.8285 to 0.8295 as I type.
So, the stage is set for the day’s main attraction. Surely it can’t out trump yesterday’s ECB hand but we can expect some frantic Friday fayre nonetheless.