Forex trading headlines from the European morning session 15 August



The end of another week and lack of data has seen little by way of action with most eyes still on the geo-political risk events in Ukraine and the Middle East

The pound staged a short rally on a better revision on y/y Q2 GDP which saw GBPUSD rise from 1.6685 to test offers around 1.6700 but gave up trying and retreated to from whence it came. EURGBP is still tightly contained by bids at 0.8000 and offers at 0.8025 and has been camped around 0.8015. Elsewhere the pound continues on the back foot but also treading water for the moment

USDJPY has just had another look above 102.60 from 102.50 but not going anywhere in a hurry while EURUSD is still pinned around 1.3375 with offers above 1.3400 and bids below 1.3350 still containing any real momentum. USDCHF still very much trapped in the 0.9035-75 range of late.

AUDUSD still looks perky at 0.9326 but failed to make too much of a dent in the offers above 0.9330 while NZDUSD has similarly found a few bids but struggling to advance beyond the 0.8500-10 offers

USDCAD once again has had the morning off around 1.0893 with support at 1.0885 and resistance at 1.0925 still providing the perimeters as we await the re-publishing of the Canadian jobs report.