Forex news from the European morning session 26 June 2015
News:
- Varoufakis says Greece still facing demands it can not accept
- Germany's Oettinger says Grexit not the aim, but will happen if no deal before 30th June
- Slovakia's Kazmir says he expects Greek deal talks to drag into Sunday
- Italy's Renzi hopes Greek accord can be reached by Sunday
- Tsipras: Why are you being so tough?
- Saturday night and it's really all over says Dijsselbloem
- ECB leaves Greece ELA unchanged while Greek banks say they expect a deal to get done
- Hollande: Attack was a terrorist incident
- DNT options back in play with the Greek uncertainty
- Profit taking prevalent through Asia could pick up in Europe and US sessions - Large bids noted in USDJPY
- Option expiries 10am NY cut today 26 June
Data:
- German import price index May -0.2% vs +0.2% exp
- Eurozone M3 money supply May yy 5.0% vs 5.4% exp
- French consumer confidence June 94 vs 93 exp
- Italian consumer confidence June 109.5 vs 105.7 exp
- Nikkei 225 closes down -0.31% at 20,706.1
Not total shutdown but it sure feels like it as we wait for any outcome on Greece
Too many unknowns on Grexit impact means traders are playing safe, or already heading out on their summer hols.
EURUSD had a gentle run up from 1.1190 to test offers at 1.1220 but gave up and has been pinned around 1.1200 again with a similar theme in other euro pairs
GBPUSD took out offers around 1.5750 but found the next batch at 1.5780 a step too far and has drifted back to 1.5730, where it started, from 1.5768 highs
USDJPY found support at 123.20 and has found a comfort blanket around 123.50 with USDCHF testing 0.9300 bids on swiss franc safe-haven demand which has also seen EURCHF test 1.0420 bids
USDCAD has been treading water around 1.2340 while AUDUSD and NZDUSD have both edged lower to test bids at 0.7685 and 0.6860
Enough movement to make a few intra-day pips but the elephant in the room has yet to fully reveal itself
