Forex trading headlines from the European session 26 Sept
News:
- Japan’s GPIF says Q1 results overvalued international stocks by around JPY 1.3 bln
- ECB’s Stournaras says credit growth would be worse without ECB action
- ECB’s Coeure says credit growth is weak across Europe
- ECB unconventional measures will work says ECB newbie Lithuania
- Spain taking the amorous route out of recession
- France takes the striking route out of recession
- Iran starts moaning about oil prices
- BOJ splashes the cash on its employees
- The real contest between the EU and US has now begun
- Option expiries for the 10 am New York cut (14.00 gmt)
Data:
- German GFK consumer sentiment Oct 8.3 vs 8.6 prev
- German import price index Aug mm -0.1% vs -0.2% exp
- French consumer confidence Sept 86 as expected
- September 2014 Italian business confidence index 95.1 vs 95.3 exp
- Nikkei closes down -0.88% at 16,229.86
It’s not been a scintillating session but there’s still been opportunity to make a pip or two as the week heads into a close.
GBPUSD had an early look at the lows around 1.6285 again but once again failed to make further headway and it bounced back above 1.6315, and we also saw EURGBP retreat from 0.7924 after a similar GBP sell-off
EURUSD has had the shadow of a large option expiry at 1.2750 hanging over it but we saw an early move from 1.2744 to 1.2727 before giving up and returning to base only to ease off again later in the session
USDJPY continued its Asian rally on a stronger Nikkei/weaker yen sentiment with a move from 108.95 to 109.17 but then ran out of puff as indeed did a further fall in AUDUSD with a dip below 0.8750 fr0m 0.8780 then seeing a bounce above 0.8785.
USDCAD has been in retreat mode from 1.1130 to 1.1090 before finding fresh buyers while NZDUSD had further drop lower in line with the aussie and posted 0.7886 before rallying back above the figure.
It’s been scrappy but there’s been money to be made