Forex trading headlines from the European morning session 11 August
News:
- Fed’s Fischer says QE has been “largely successful”
- BOJ monthly report: exports likely to recover moderately as overseas economies improve
- OECD leading indicator unchanged for June as Germany comes off the boil
- UK Mortgages +5.4% in June – CML
- UK job hunters have never felt so good
- Economists still not buying into early UK interest rate hikes
- Ukraine’s Naftogaz says it will ensure smooth transit of Russian gas to Europe
- EU experts to meet and discuss Russia’s ban on EU’s agricultural exports
- Ukraine sanctions list to be decided in parliament
Data:
- Japanese consumer confidence index July 41.5 vs 41.1 prev
- Swiss retail sales y/y +3.4% vs +0.3% exp
- Nikkei closes up 2.38% at 15130.52
Another not-so-manic Monday has see the euro in retreat for the most part after its rampant end to last week, but a few bids have re-appeared in the dips
EURUSD has been down to test support at 1.3380 from 1.3397 as sellers in EURGBP had that pair down to 0.7970 from 0.7985 before bouncing to 0.7980. EURJPY has been down 136.60 having failed to hold above 137.00.The EURGBP selling saw early bids in cable with a move to 1.6795 from 1.6780 only to dribble back down again
USDJPY had a wander down to 102.03 from 102.15 then camped at 102.07 while USDCHF has drifted lower to 0.9057 from 0.9065 but also largely comatose.
AUDUSD and NZDUSD have been pnned down around 0.9265 and 0.8465 while USDCAD dribbled down to 1.0958 from 1.0970.
Summer hols adding to the apathy but we can expect more action as the week progresses.
