9/11 – Lest We Forget
Forex trading headlines from the European session 11 Sept
News:
- ECB’s Noyer says euro still needs to be lower to hit inflation target
- ECB’s Praet says credit impairment is the dominant problem
- ECB’s Visco says further monetary policy action is possible to avert risk of prolonged low inflation
- BOJ’s Kuroda to make a tv appearance in Tokyo at 14.00 GMT
- BOE’s Kohn says exit from unconventional monetary policy likely to be positive for UK economy
- ECB’s Noyer says reforms needed in France
- Japan’s Abe says the economy is “basically improving under the 3 arrows policy”
- ECB monthly report blames Russia for lack of growth
- EU Commission says it’s been informed by Poland of a reduction in gas supplies from Russia
- Gold falls beyond 7-month lows to 1238.50
- Next big Scottish vote poll to be released at 21.00 gmt tonight
- Want the lowdown on Scottish independence polls? We’ve got you covered
- RBS prepares to relocate in London on Scottish Yes vote
Data:
- German final CPI Aug 0.0% as exp/prev
- French HICP Aug final mm +0.5% vs +0.4% exp
- June 2014 Greek unemployment rate at 27.0% vs 27.2% prior
- August 2014 Irish HICP creeps up to 0.6% from 0.5% y/y
- Nikkei closes up 0.76% at 15.909.20
On this auspcious day we have seen a mixed bag of a session with plenty of movement to grab hold of and 6 year highs of 107.16 on USDJPY
The march higher on this pair has been relentless of late picking up bids in every dip and forcing its way to highs not seen since Sept 2008. Yen pairs have generally had a good morning with EURJPY and GBPJPY posting 138.42 and 174.08 but AUDJPY has taken a tumble to 97.70 as the Aussie $ gets a slap after its rally on the ludicrous jobs data overnight
The pound has had another good session overall but not without a few wobbles with cable rallies to 1.6250 retreating to 1.6223 only to surge again to 1.6265 before falling back toward 1.6235. EURGBP has chewed its way through bids to 0.7948 but holding up for the moment as EURUSD also finds buyers in the dip after highs of 1.2940 following lows of 1.2898 early in the session.
USDCAD has ground its way higher to 1.1014 from 1.0965 after holding decent support at 1.0930 in Asia while NZDUSD has also suffered on the USD dominance to 0.8160 before finding a few buyers.
A lively session so far and no doubt will continue, but our thoughts will also remain with those that went to work 13 years ago never to return home.
