Forex trading headlines from the European morning session 14 November
- UK retail sales oct m/m -0.7% vs 0.0% exp. ex fuel -0.6% vs -0.2% exp
- EZ Q3 GDP q/q prelim +0.1% vs +0.2% exp vs +0.3% prev
- German Q3 GDP q/q prelim +0.3% as exp. y/y +1.1% vs +0.7% exp
- French Q3 GDP q/q prelim -0.1% vs +0.1% exp
- Italian Q3 GDP q/q prelim +0.1% vs-0.1% exp
- Greek Q3 GDP q/q -3.0% vs -3.7% prev
- French CPI EU norm oct final m/m -0.1% exp vs -0.2% prev
- French c/a sept EUR-3.9 bln vs -3.6 bln prev
- Nikkei closes up 2.12% at 14,876.41
- ECB SPF Q4 sees EZ 2013 GDP at -0.4%, 2014 +1.0%
- German coalition partners pressing for urgent implementation of FTT
- Bundesbank warns that low interest rates could create financial stability
- BOE’s Fisher says they will be vigilant against debt-fuelled credit spiral
- IEA says recent oil price falls could be short-lived
- Swiss producer import prices oct -0.4% vs +0.1% prev
- Greek unemployment rate august 27.3%
- Shanghai comp index closes up 0.6% at 2100.51
It’s been a strange and busy morning with a raft of data to add to the fall-out from last night’s box of frogs opened up by Janet Yellen.
Her dovish tones gave a boost to Asian stock markets that led to USDJPY finally taking out the sellers at 100 only to come to a grinding halt. 99.80 has held the retreat but we’re back up toward 100 again with traders viewing a $1.5bln option expiry there today.
The pound came in for another slap on weaker retail sales data and the gradual early declined turned into a rapid drop to 1.5989 from 1.6030 wiping its feet at 1.6000 on the way. EURGBP rallied as quickly but once again ran into resistance approaching 0.8420 and cable has come bouncing back to 1.6025
EURUSD has once again looked supported in the dips but it’s been a fuzzy picture given all the cross play going through and overall has found itself dribbling lower from the o/n highs of 1.3498
The aussie $ has fallen again after its o/n shunt lower and looks undermined still with AUDUSD dipping to 0.9281. The kiwi has also had a torried time with NZDUSD down to 0.8231 from o/n highs of 0.8358
A really confusing picture out there right now across the board and with Yellen up again later it’s going to be another lively session.
