Forex news and economic data headlines during the European session 29 April 2016
- Kaplan: Markets may underestimating how soon the Fed might act
- Spanish economy to average 2.5% growth over 4 years
- Fed's intention is to reverse QE in a gradual way that does not hurt markets says Kaplan
- Forex order board 29 April 2016
- Fed's Kaplan says Q1 growth has been disppointing
- Forex option expiries for the 10am (14.00GMT) New York cut 29 April 2016
- March 2016 Italian PPI 0.2% vs -0.4% prior m/m - late as usual
- ECB's Vasiliauskas: Too early to discuss further stimulus - Livesquawk
- ECB's Weidmann: Returns don't fall from the sky
- March 2016 Eurozone unemployment rate 10.2% vs 10.3% exp
- Q1 2016 Eurozone GDP 0.6% vs 0.4% exp q/q
- April 2016 Eurozone HICP flash -0.2% vs -0.1% exp y/y
- March 2016 UK mortgage approvals 71,357 vs 74,500 exp
- Italian unemployment falls to the lowest since Dec 2012
- SNB's Jordan Swiss Franc remains significantly overvalued
- April 2016 Swiss KOF indicator 102.7 vs 102.8 exp
- Q1 2016 Spanish GDP flash 0.8% vs 0.7% exp q/q
- March 2016 French consumer spending 0.2% vs -0.4 exp m/m
- April 2016 French HICP flash -0.1% vs -0.1% exp y/y
- Early European data round up
Shhh. Keep it to yourself that the wrap is late today ;-)
Where do I begin? Same sh*t, different day for yen pairs. Swap the big figures over from yesterday and we almost have a mirror image. Japan may have been having a day off but the rest of Asia wasn't. Stocks were lower and the sentiment from Thursday remained in place today. With the reduced liquidity, and half a thought that Kuroda might have been at his local fishing hole instead of in front of his trading platform, we woke up to USDJPY flapping around the 107 area. 107 put up a fight, as 108 did yesterday, 107.50 marked the top, as did 108.50 yesterday. We've had a dip under 107 but that was fleeting and we're back mooching around above 107.
Not too much action elsewhere in FX. The Pound and euro have been fairly tight. The quid tried to poke the upside but got vertigo at 1.4665 as the UK opened and dropped a quick 90 odd pips. We've a big option expiry at 1.4600 today and without any other influences, we're likely to not stray far from it. Watch out for either side of the option players to try and get the price on their side nearer the roll off.
EURUSD is knocking on the 1.1400 door once again. A push to 1.1414 was quickly rebuffed but the buyers aren;t giving up and the dip to 1.1370 was well received. 1.1405 trades as I type.
Apologies once again for the drop in service earlier, and for a lesser service while I played catch up. Thank you as always for your continued support.
