Forex trading headlines 2 September 2013
- ECB’s Coeure pumps OMT
- USD/JPY get’s the bulls cheering
- German government official says don’t bank on banking union expectations, then gives us the G20 agenda
- ECB to stay on hold this week say traders
- NATO says Nay To Syrian action
- European stocks post decent gains on risk rebound
- US Verizon coughs up $58.9bn in cash to UK Vodafone as part of $130bn deal
- UK’s Cameron gets a Boris-ing about Syria
- French intelligence supposedly confirms Syrian chemical weapons attack
- SNB’s Danthine says if the cap fits, they’ll wear it
USD/JPY screamed through 99.00 like the proverbial sh*t off a shovel in the European session then spent day baking in the sun. Large offers at 99.50 weren’t troubled but the pair remains well bid above 99.00.
Cable hovered just under 1.5600 on the Verizon/Vodafone news but then took a tumble as the details came out suggesting that there was some front running of the expected cash deal. We collapsed like a game of Jenga to 1.5530 over the course of about 2 hours and have been stuck in a 20 pip range ever since.
EUR/USD tried a brave ascent from 1.3215 to 1.3225 but then lost its footing and fell down a deep ravine to 1.3184 where buyers were waiting with burning torches and pitch forks. The pair got scared and ran off to 1.3193.
AUD/USD was up harder than a pensioner on viagra after the Chinese data but the potion wore off and we went limp again below 0.9000. We hit a session low of 0.8963 and the old codger was defibrillated back to 0.8978
Enjoy the rest of quiet day as the rest of the week is going to be absolute carnage of epic proportions…..maybe.
I’m off to put the kids to bed and grab some grub. I’ll be keeping one eye on the furious action currently unfolding on our screens until 25% of the Four Horsemen of the Apocalypse gets in for his Asian shift.
