Forex news from the European morning session 19 August

News:

  • German Lower House approves Greek bailout deal
  • Germany's Schaeuble says there are reasons for and against Greek bailout
  • More from Schaeuble: No doubt that IMF will join Greek deal if conditions are met
  • German rebellion against Merkel on Greek bailout vote unlikely EU's
  • Dombrovskis says Eurozone shows a strong will to pass Greek bailout deal
  • Option expiries 10am NY cut today 19 August

Data:

  • Eurozone current account June SA EUR +25.4bln vs +19.2bln exp
  • Eurozone construction output June -1.9% vs +0.2% prev
  • Italy current account balance June EUR 3.528bln vs +2.6bln prev
  • Japan all industry activity index June +0.3% vs +0.4% exp
  • Japan department store sales July yy +3.4% vs +0.4%
  • Nikkei 225 closes down -1.61% at 20,222.63

It's been a session of range mode as traders wait on the FOMC Minutes and US CPI data before that

We saw an early move up in EURUSD from Asian lows around 1.1025 to post 1.1073 as equity market fall out saw the euro in favour but it was short lived and we've since slipped back to 1.1031.

EURGBP has fallen back to 0.7037 from 0.7064 with EURJPY in range mode still but also giving up early gains above 137.50 to post 137.18

GBPUSD had another look at 1.5700 but failed at 1.5698 before falling back to 1.5660 so far while the pound overall has had a mixed morning

USDJPY still in tight range mode with demand into 124.00 but supply above 124.40 while USDCHF remains offered in the rallies with EURCHF under pressure from the general euro sales

USDCAD has found demand into 1.3020 while AUDUSD saw a half-decent rally to 0.7362 from 0.7320 and NZDUSD has seen supply into 0.6600 as AUDNZD found buyers to 1.1177

US CPI out at 12.30 GMT then those FOMC Minutes at 18.00 GMT