Forex news from the European morning session 29 Oct
News:
- US treasury sec Lew says US economic indicators ” very positive”
- Treasury sec Lew says US infrastucture needs must be met to sustain the economy
- ECB’s Hansson says impact of recent measures should be seen around Spring 2015
- EU looking for ECB input on fallout from FTT on derivatives
- ECB says banks expect further easing of credit standards in Q4
- EU’s Katainen says France has made significant improvement in 2015 budget plan
- German 10 year bund auction fills EUR 3.264 bln of 4bln target
- OPEC’s El-Badri says fundamentals do not reflect low oil price
- SNB’s Zurbruegg Says Gold Initiative Would Hurt Credibility
- Spanish PM Rajoy says results of stress tests show the bank rescue plans have been a success
- OECD’s Gurria says that room for Eurozone monetary and fiscal stimulus is limited
- Japan’s sales tax panel to meet from November 4
- Japan’s GPIF working party to hold first meeting on new governance on 4 Nov
- Russian banks may incur losses of up to USD 25 bln over Ukraine
- Central bank of Russia raises rouble corridor by 40 kopecks
Data:
- UK mortgage approvals Sept 61.267k vs 62.25k exp
- US MBA mortgage applications -6.6% vs +11.6% prev
- French consumer confidence Oct 85 vs 86 exp
- Nikkei closes up +1.46% at 15,553.91
Not a whole heap to report as markets wait with bated breath for Yellen & Co later but there’s been plenty of rhetoric to digest
GBPUSD opened at 1.6145 but has drifted off all morning posting 1.6110 after weaker than forecast UK lending data but mostly been 15-25 with EURGBP finally popping 0.7900 but then retreating from 0.7907
EURUSD began the session at 1.2745 and it too has dribbled lower to 1.2724 but stalling ahead of EUR3bln option expiries between 1.2700-25 later.
USDJPY held firm above 108.00 but its been pinned in a tight range with cross plays the main interest while USDCHF remains on a softer track around 0.9460
USDCAD has finally popped decent bids at 1.1150 to post 1.1140 in recent trading while AUDUSD has looked well supported with EURAUD selling noted but 0.8900 offers still cast a shadow. NZDUSD has held Asian gains but mostly been around 0.7940
So we’re set for more of the same as we wait on the FOMC rhetoric.
