Forex trading headlines from the European morning session 30 May
News:
- ECB’s Visco says Euro exchange rate not an ECB target
- ECB and BOE say the EU could develop principles for high-quality ABS
- China’s cabinet says they will keep monetary policy prudent
Data:
- German retail sales April real mm -0.9% v +0.4% exp
- Italian CPI (EU-norm) May flash mm -0.1% vs +0.1% exp
- Spanish CPI May flash EU-harmonized mm +0.2% vs +0.4% prev
- Swiss KOF leading indicator April 99.8 vs 101.7 exp
- Nikkei closes down 0.34% at 14,632.38
- Shanghai Composite Index closes down 0.07% at 2039.21
Is it really still almost another week to the ECB meeting ? I’m not normally one to wish my life away but…
It’s been dire to be honest and I’m finding it difficult to gloss up but, amongst the few bones from the table, we had a little early stop-flurry in GBPUSD through to 1.6759 before retreating to 1.6730 as month-end EURGBP demand from 0.8120 to 0.8140 capped any further cable advance.
EURUSD has been 1.3605-15 for the most part, USDJPY 101.60-70, and USDCHF 0.8960-70 with the only other mover being AUDUSD that ran into profit-taking having failed to breach 0.9330 offers and dropping back to test bids at 0.9300. Likewise NZDUSD followed its cousin lower to 0.8477 having once again found life above 0.8500 a little tough while USDCAD chewed through corp orders at 1.0835 to post 1.0822 but barrier defence noted ahead of 1.0800
Some US/CAD data out but probably main feature left will be the UK 16.00 fix where the final knockings of month business tends to be executed.
But I’m not holding my breath.
