Forex news from the European morning session 4 August
News:
- BOJ sees no need for further monetary stimulus at the moment
- No need for BOJ too ease policy further says Abe adviser Honda
- BOJ considers holding policy meetings to shadow US Fed next year
- Greek banks see deposit inflows since re-opening on July 20
- ASE chief says the stock market is normalising
- Italy's Padoan says govt spending review is "alive and kicking"
- Verdict on RBA's Stevens: Talking sense or a man running scared?
- Government spending does not cause the economy to grow: Latest thoughts from guest economist John Hearn
- Option expiries 10am NY cut today 4 August
Data:
- July 2015 UK Markit construction PMI 57.1 vs 58.4 exp
- Spanish unemployment change July -74k vs -45.6k exp
- June 2015 Eurozone PPI -0.1% vs 0.0% exp m/m
- UK Nationwide house price index July mm +0.4% as exp
- Nikkei 225 closes down -0.14% at 20,520.36
Another slow session leaves us none the wiser
The Aussie $ continued its post-RBA rally and has now tested 0.7400 as I type with AUDNZD also higher and taking out offers at 1.1200
EURUSD has made steady progress to 1.0981 currently from 1.0945 with EURGBP finding a bid to post 0.7046 helped by weaker UK construction PMI. GBPUSD dipped to lows of 1.5580 only to nudge its way back to where it started around 1.5600
USDJPY has been pinned around 123.95 for the most part and USDCHF had a run lower to 0.9670 from 0.9700 only to edge back up there
USDCAD has had a decent move to 1.3115 from 1.3170 on firmer oil price before bouncing to 1.3145 and NZDUSD has found support at 0.6560 and staged a solid rally to 0.6612, with AUDNZD flows having their say
US factory goods orders at 14.00 GMT should have impact but otherwise we can expect more slo-mo in these summer markets