Forex news and economic headlines 20 April 2016
News:
- Former BOE governor King says it's important for people to calm down" on UK referendum outcome
- German government leaves 2016 GDP forecast unchanged at +1.7%
- Germany's Gabriel says it's wrong to blame ECB for root cause of Eurozone problems
- China says it will implement a pro-active import policy
- Dai-Ichi Life plan to reduce JGB holdings but increase yen credit products
- AUDUSD enjoying the risk related ride again
- Option expiries 10am NY cut today 20 April
- Nikkei 225 closes up +0.19% at 16,906.54
Data:
- UK February average weekly earnings 3mth-year +1.8% vs +2.3% exp
- Swiss April ZEW investor sentiment index rises to 11.5 vs 2.5 previously
- Japan convenience store sales March yy -0.1% vs +1.6% previously
Another up n down and all around session as oil/equities pull yen pairs around and impacting as usual on the core price action.
Early oil price falls and equity market losses led to yen gains and USDJPY led the way to 108.76 dragging others down with it but as it was soon turnaround time again with oil prices bottoming out, equities turning north and yen pairs higher.
GBPJPY led the way and after a minor wobble post-UK data we saw GBPUSD up to 1.4407 from 1.4346 which in turn helped EURGBP retreat once more into 0.7920 to test the 0.7880 lows/support. In the currently ever more fickle/range bound markets though we've been back to 1.4375 and 0.7908.
EURUSD has been caught up in the cross-play crossfire and in tight range while EUR pairs have gone on their own varying journeys.
AUDUSD had an early dip below 0.7770 but as yen selling recommenced we saw 0.7824 with AUDJPY once more in strong rally mode.
CHF pairs have been largely muted again caught up in the various cross-plays while USDCAD has been pulled around by oil in a 1.2660-1.2730 range falling as oil prices rallied from their lows.
NZDUSD has spent its time between 0.7000-20 with commodity/yen plays focussing their attention elsewhere.
US housing data to come at 14.00 GMT but this market is currently not paying too much attention.
