Forex news from the European morning session 5 August
News:
- EU's Juncker says he's confident on reaching a deal with Greek creditors
- Preview : BOE has a lot on its mind heading into announcements tomorrow
- Option expiries 10am NY cut today 5 August
Data:
- July 2015 UK Markit CIPS services PMI 57.4 vs 58.0
- Eurzozone Markit services PMI July final 54.00 vs 53.8 exp
- Germany Markit services PMI July final 53.8 vs 53.7 exp
- Swiss CPI July mm -0.6% vs -0.4% exp
- June 2015 Eurozone retail sales -0.6% vs -0.2% exp m/m
- Italian industrial production June mm -1.1% vs -0.3% exp
- France Markit services PMI final July 52.0 as exp
- Italy Markit /ADACI services PMI July 52.00 vs 53.00 exp
- Nikkei 225 closes up +0.46% at 20,614.06
Another session under the shadow of tomorrow and Friday's main events but the US$ has held on to most if its gains albeit with a few sellers ready to jump on to the overnight move
EURUSD found a small bid early on but has struggled to advance beyond 1.0880 despite better final PMI readings and this has given EURGBP a further kick lower to 0.6960 as I type with GBPUSD heading back above 1.5600 after a failed earlier attempt prior to an eventual softer UK services PMI
USDJPY has maintained its bid tone above 124.00 but been unable to breach 124.50 offers while USDCHF had move above 0.9800 on softer CPI but has failed to make further progress
USDCAD drifted to 1.3177 from 1.3215 despite softer oil but has picked up buyers from there and AUDUSD had an early dip below 0.7350 only to recover its poise and head back to 0.7370 from 0.7335 lows
NZDUSD still looks soggy and has crawled long the bottom around 0.6530
ADP non farm employment change at 12.15 GMT is eagerly awaited given the Fed's focus on jobs data but the big events this week are still to come tomorrow and Friday
