Forex news from the European morning session 22 January 2015
News:
- France’s Sapin says Germany should remember to respect independence of ECB
- EU’s Moscovici says wait and see on ECB decision today
- Ireland’s Kenny says ECB does not need political pressure
- ECB preview part 2: Draghi rolls the QE missile into ECB HQ
- Forexlive preview: A few thoughts on trading the ECB today
- More from Zurbruegg: SNB was still convinced of need for cap in December
- Abe adviser Honda thinks there will be some “concrete movements” in Japan’s real economy in 2015
- Lagarde sees US Fed raising interest rates by mid-year
- BOE’s Miles says there’s “no great urgency” to tighten monetary policy
- BOE’s Miles says low inflation is a temporary phenomena
- BOE’s Miles says UK may get negative inflation rate in next couple of months
- Iron FX confirms it’s making a bid for Alpari UK
Data:
- December 2014 UK PSNB 12.465bn vs 9.000bn exp m/m
- January 2015 UK CBI industrial trends orders 4 vs 5 exp
- Spanish Q4 unemployment rate 23.7% vs 23.5% exp
- November 2014 Italian retail sales 0.1% vs 0.0% prior m/m SA
- Nikkei 225 closes up +0.28% at 17329.02
It’s been scrappy to say the least and understandably so as traders make last minute adjustments to positions and we’ve seen a net fall in the greenback overall
USDJPY had an early look above 118.25 on late Nikkei rally but soon gave up to drop to 117.85 and gave a clue to other pairs to start showing aUSD-neg tones with EURUSD climbing above 1.1600 and GBPUSD to 1.5160. We’ve since been to 117.48, 1.1645 and 1.5213 as the momentum slowly built up
Euro tone has been better mixed overall which reflects the view on the unknowns that are about to be thrust upon us
USDCAD slid in a hurry from 1.2370 to 1.2325 while AUDUSD and NZDUSD both found bids to rally to 0.8135 and 0.7585
But what’s important is what’s coming up now.. and we’re in for a ride and a half
