Forex news from the European morning session 6 August
News:
- Here's how the new BOE MPC meeting and inflation report will go down
- The price levels to watch over the Bank of England announcement
- EU says August 20 Greek deadline is ambitious
- SNB in the frame again as CHF weakens further
- Australia's Hockey says transition in economy is well under way
- Option expiries 10am NY cut today 6 August
Data:
- Germany factory orders June mm +2.0% vs +0.3% exp
- UK mftg production June mm+0.2% vs -0.6% prev
- UK Halifax house price index July mm -0.6% vs +0.4% exp
- Germany Markit construction PMI July 50.6 vs 50.7 prev
- Switzerland SECO consumer confidence July -19 vs -7 exp
- Japan leading index June prov 107.2 vs 106.9 exp
- Nikkei 225 closed up +0.24% at 20,664.44
It's been the calm before the expected storm as we wait for the BOE to unleash their unprecedented triple-header at the top of the hour
Oh , and see if the Aussies can recover from 30-6 eee 33-7 !
EURUSD had an early rally to 1.0944 after good German factory orders data but we were soon in retreat to post 1.0884 so far with EURGBP coming back from 0.7003 to post 0.6968
The pressure on that pair and the general hawkish sentiment for the pound ahead of the BOE meant that GBPUSD has found bids below 1.5600 but has retreated from 1.5638. Buy rumour/sell fact ? We'll find out soon enough
USDJPY has had a sniff of 125.00 again but not breached while USDCHF and EURCHF have both rallied sharply with the SNB cited
AUDUSD and NZDUSD have both been on the defensive again while USDCAD has found support into 1.3150
But it's all about the pound for now
