Japanese Yen weakness is still a main feature of forex trade, but the process has slowed somewhat in Asia as the market consolidates. USD/JPY at 96.80 and EUR/JPY at 124.50 presently are not a million miles from where I left them at the close in North America Tuesday. In North America yesterday there was much talk of these pairings being headed to 100.00 and 127.50 respectively.
For today in Europe we have the following forex trading news/events
- 09:00 GMT: Italian retail sales for December expected flat m/m and -1.7% y/y.
- 09:00 GMT: ECB’s Ordonez before parliament in Madrid.
- 09:30 GMT: UK Q-4 GDP (prelim) expected -1.6% q/q, -1.9% y/y.
- 10:00 GMT: ECB’s Weber speaks in Hannover.
- 12:30 GMT:BOE’s Blanchflower speaks in Scotland.
- We’ve already had Q-4 German GDP confirmed at -2.1% q/q, -1.7% y/y.
