Forex news from the European morning session 13 March 2015
News:
- EU's Juncker says he's not satisfied with Greek developments recently
- Greek PM Tsipras says talks with EU have been productive
- Germany says they are not working on a Greek exit plan
- BOE's Carney: UK faces challenges from weak European demand and strong pound
- IEA monthly report raises forecast for global oil demand growth in 2015 to 1m barrels per day
- It's not a given that Russian sanctions are renewed in July says EU - Livesquawk
- GBPUSD breaks first strong support at 1.4830
- Pound survives again for the moment
- Option expiries 10am NY cut 13 March
Data:
- January 2015 UK construction output -2.6% vs +1.3% exp m/m
- German wholesale price index Feb mm +0.5% vs -0.4% prev
- Italian CPIFeb final mm +0.4% vs +0.3% flash
- Nikkei 225 closes up +1.39% at 19,254.25
Ranges have been relatively tight but we've seen the pound under pressure and the euro giving up some early gains as the greenback finds favour once again
It started off with some USD-neg moves that saw EURUSD head up toward the 1.0635 recent highs again and GBPUSD testing 1.4880 from 1.4860 with USDCHF dipping into 1.0040, but then things started turning
Cable was the first to pop, helped on its way down to 1.4807 by some less than impressive construction data only to rally back into 1.4840 but now tumbling lower again as I type
EURUSD has given up its gains down to 1.0562 with euro crosses also softer although EURGBP did have a spike up to 0.7156 on cable's first fall but has fallen back since
USDCHF has rallied to 1.0085 and USDJPY finding a few bids to 121.50 with USDCAD posting gains to 1.2767 on softer oil price
AUDUSD and NZDUSD both started with a bit of demand but fallen back to 0.7643 and 0.7324 as USD dominance resumes
Canadian jobs and US PPI data to come. Could be a busy end to a lively week
