Forex news from the European morning session 6 February 2015
News:
- Eurozone finance ministers to hold extra meeting about Greece on Feb 11
- Japan’s Abe says BOJ bond buying is aimed at reaching 2% inflation goal
- Swiss foreign currency reserves Jan CHF 498.4 bln vs CHF 495.1bln prev
- Iran says there is 2m bpd oil excess in the market
- Preview: Non-farm payrolls by the numbers Feb 6 2015
- The Non-farm payrolls top pickers are finely split on today’s number
- World economy faces significant downside risks says IMF’s Lagarde
- Befriend the trend – Guest Trader
- Option expiries 10am NY cut 6 Feb
Data:
- UK visible trade balance Dec GBP -10.154bln vs -9.1bln exp
- German industrial production Dec mm SA +0.1% vs +0.4% exp
- Swiss retail sales Dec yy +2.2% vs -0.6% prev
- Spanish industrial output Dec yy SA -0.9% vs +0.3% exp
- French trade balance Dec EUR -3.446bln vs -3.3bln exp
- Nikkei 225 closes up +0.82% at 17,648.50
A morning of consoldiation and shadow boxing, only to be expected with the US NFPs looming at 13.30 GMT
All the pairs have been treading water to a lesser or greater effect with EURUSD the channel for a lot of various crossplays but mostly all on the back foot. EURGBP has been down to test 0.7450 from 0.7475, EURCHF 1.0520 from 1.0570,and EURJPY 134.06 from 134.70 all forcing EURUSD to test 1.1430
The fall in euro pairs have all by and large given support to core pairs and we ‘ve seen GBPUSD post 1.5353 but mostly hang around 1.5335 with USDJPY similarly trading aro8nd 117.30
USDCAD had a fall to 1.2427 from 1.2470 on firmer oil prices while AUDUSD and NZDUSD have similalryfound favour and support at 0.7825 and 0.7400 to post 0.7876 and 0.7446 so far
Opportunities then, but no doubt a lot of powder being kept dry for the main event coming up.
