Forex news from the European morning trading session 4 December 2014
News:
- BOJ’s Sato sees possibility of further slowdown in CPI gains
- Fed’s Fischer says ECB govt bond purchases would have positive effects
- Putin keen to curb speculation on rouble
- Putin: Russia won’t opt for isolation
- The big bank rundown of what’s in store from the ECB?
- Westpac sees RBA cutting interest rates in Feb and March 2015
- Australia – Westpac now calling 2 x RBA rate cuts in 2015 (Eamonn’s add)
Data:
- UK Halifax house price index Nov mm +0.4% vs +0.3% exp
- German Markit construction PMI Nov 53.5 vs 51.5 prev
- Eurozone retail PMI Nov 48.9 vs 47.0 prev
- Nikkei closes up 0.94% at 17,887.21
It’s been a morning of waiting for something to happen with USDJPY so close to bursting through 120.00 and EURUSD nudging through 1.2300 but it’s all been a big tease as traders settle in to wait for the Draghi & Co show
USDJPY posted 119.98 and has sat camped at 119.90 since while EURUSD posted 1.2295 in a rush early doors before grinding its way higher to run into offers at 1.2325
GBPUSD wandered down to 1.5661 as EURGBP tested pivot/resistance arounf 0.7865 but then rallied back above 1.5685 as EURGBP retreated, only to dribble back down again to 1.5665 as I type
AUDUSD had a wobble to 0.8355 as Westpac forecast rate cuts and lower aussie$ but we’ve staged a couple of recoveries to 0.8375-80 since while USDCAD drifted off to 1.1340 from 1.1370 on some EURCAD selling only to wander back to where it came from
It’s going to be all up ( or down) to the Draghster and hopefully we’ll have a few questions answered in an hour or so
