Forex news from the European morning session 6 January 2015

News:

Data:

It’s been a session that began with a softer tone for the greenback led lower by USDJPY and a weaker Nikkei, but since then we’ve seen USD dominate the session once again

USDJPY fell through 119.00, bounced , then fell again to 118.66 where the pair ran into a pile of bids and we’ve been back above 119.30 before capping again with yen pairs still under pressure overall and limiting USDJPY rallies

The pound had another wobble after weaker than expected services PMI and more concerns over consumer borrowing and we saw GBPUSD fall to 1.5176 from 1.5230 after wiping its feet between 1.5190-00. EURGBP had a look at the 0.7850 offers but with the euro also in retreat we’ve seen a move back toward 0.7820

EURUSD looked to rally above 1.1950 early on but also got slapped back on weaker PMI data and we’ve been down to 1.1884 but with the key support 65-75 area still intact, while USDCHF finally chewed through the offers at 1.0100 as EURUSD edged lower

USDCAD has been a relatively steady path up to 1.1787 from 1.1737 while AUDUSD capped at 0.8158 to return 0.8120 before finding a few bids and NZDUSD has been tight-ranging around 0.7735 ahead of the latest dairy auction now underway

Another session offering decent opporunity for the day-trader but frustrating the longer-termers with many key levels still intact