Forex news from the European morning trading session 28 January 2015
News:
- Greek PM Tsipras says he’s not seeking a clash with creditors
- Germany’s Gabriel says they have strong interest in Eurozone stability
- EU Commission’s Katainen says they are unanimous on the need to co-operate with Greece
- Tsipras’s words not enough to soothe markets as Greek bond yields rocket and stocks crater
- Japan’s Abe says corporate tax cut goal is to stimulate higher wages
- Japan’s Aso says BOJ will respond appropriately if the economy gets inflation
- BOJ announces new “bond market group” meetings
- Former BOE gov Mervyn King says central banks are more determined to talk down exchange rates
- BOE’s Haldane is not in a rush to raise rates
- German economy to grow 1.5% in 2015
- Sapin sees French economy growing at 1.0% in 2015
- Ex-PBOC adviser says it’s reasonable to cut 2015 GDP to 7.0%
- Recession for Switzerland after SNB pulled the franc cap says KOF institute
- iPhone sales at the core of Apple’s record success
- Swiss pairs having some fun again
Data:
- German import price index Dec mm -1.7% vs -1.5% exp
- German GFK consumer confidence Feb 9.3 vs 9.1 exp
- French consumer confidence Jan 90 vs 91 exp
- Swiss UBS consumption indicator Dec 1.42 vs 1.29 prev
- US MBA mortgage market index 544.2 vs 561.9 prior
- Nikkei closes up +0.15% at 17795.73
No real stand-outs this morning but it’s been busy enough to provide a few opportunities as traders and markets both try and position themselves on the latest Greek news and FOMC later
Swiss pairs went on an early round-trip again with USDCHF and EURCHF up to 1.0320 and 0.9090 highs after their spikes from 1.0260 and 0.9030 only to return in rapid time to 0.9005 and 1.0205 as european equities tumbled on Greek uncertaintities
EURUSD fell to session lows of 1.1325 from 1.1365 with EURJPY happily moving lower beyond 133.50 after the early session highs of 134.37. EURGBP had capped at 0.7500 and joined the move down to 0.7460 before running into bids
GBPUSD found support into 1.5150 again and was soon rallying through 1.5200 as EURGBP fell but the key resistance/offers into 1.5225 held yet again but overall the pound has had a decent morning
USDJPY wobbled early on as the Nikkei retreated at the close and we saw 117.85 from 118.05 only to rally back to 118.15 before once again running out of puff and leavoing the 118.25-30 area now as a key resistance with lows of 117.60 posted so far
USDCAD has traded a 1.2410-50 range while AUDUSD and NZDUSD have both been impacted by cross plays not least of which AUDNZD falling to 1.0621from 1.0730 ahead of the RBNZ tonight
Plenty going on still and we’re not going to be slowing down anytime soon
