Forex trading headlines from the European morning session 15 Sept
News:
- OECD cuts 2014/15 growth forecasts for major economies
- OECD calls upon ECB to launch QE
- Germany’s Kampeter says printing money doesn’t solve structural porblems
- UK’s Phones 4U goes into administration threatening 5596 jobs
- Russia ready to to back EU-Ukraine trade pact as long as it’s legal
- Has the SNB been behind the AUD selling?
Data:
In a week that will tell us a lot lot more by Friday than we know on Monday it’s been the euro and aussie $ that have caught the eye in what has been a session short on data and rhetoric.
The euro has come under renewed pressure and we’ve seen EURUSD down to 1.2916 lows as I type from highs around 1.2960 with EURGBP posting 0.7945 from 0.7975 and EURJPY to 138.48 from 139.00.
The EURGBP selling has given bids to cable after its own early dip saw a move to test recent support into 1.6220 while the EURAUD selling has given support to the beleagured aussie $ which saw an early sell through 0.9000 only to fail at strong support at 0.8980 to rally to 0.9025.
USDJPY has been caught up in the cross fire in a tight range of 107.15-30 for the most part while USDCAD has retreated to 1.1078 after a failed attempt to breach 1.1100. NZDUSD has also found a share of cross related support to rally to 0.8155 from the early session fall below 0.8130.
A decent enough start to a week that will only deliver more and more opportunity
