Forex news from the European morning session 5 December 2014
News:
- Abe adviser Honda says current yen weakness has happened faster than expected
- Bundesbank lowers German growth forecasts
- Bundesbank’s Weidmann says we’re in a very uncomfortable position as a central bank
- ECB’s Nowotny says Eurozone is the weak spot of global economy
- ECB’s Nowotny says next steps to be decided in Q1 2015
- US and UK QE was successful says Nowotny
- SNB declines to comment after latest forex reserves report
- ForexLive non-farm payrolls competition – The 2014 finale
Data:
- Eurozone Q3 GDP 2nd reading qq +0.2% vs +0.2% prev
- German factory orders Oct mm +2.5% vs +0.5% exp
- November 2014 UK BOE GFK inflation expectations 2.5% vs 2.85 prior
- Japan leading index Oct 104.0 vs 104.1 exp
- Nikkei 225 closes up +0.19 % at 17920.45
It’s been the usual pre-NFP type of session with traders trimming back and remaining cautious and we’ve seen the euro give up a few of its post-ECB gains but holding its own against the further weakening yen
EURUSD has dribbled lower to 1.2346 from 1.2480 with EURGBP down to 0.7871 from 0.7915 as the pound picks up a few buyers overall sending GBPUSD to 1.5695 after early lows of 1.5624. EURJPY was capped at 148.90 but another burst higher in USDJPY to 120.69 has dragged it up to 149.09 so far.
Yen weakness overall has seen GBPJPY up to 189.31 and even AUDJPY dragged higher to 100.97 but with AUDUSD still on the backfoot around 0.8365
USDCAD has had a look upstairs from 1.1390 but capped at 1.1420 while NZDUSD still remains under the cosh at 0.7758.
NFPs on their way so get yourselves ready for some frantic Friday fayre.