Forex news from the European morning trading session 2 February 2015
News:
- Greek PM Tsipras says abolishment of Troika is necessary
- French fin min Sapin says that Greece must pay its debt to EU taxpayers
- ECB’s Nowotny says ” No Comment” on any relaxation of defict target for Greece
- Germany’s Schaeuble says one-sided changes to Greek bailout unacceptable
- Greek govt says they will not proceed to moves that could hurt share value of banks
- Tsipras to meet Juncker on Feb 4
- ECB’s Coeure says they will start bond buying in first two weeks of March
- ECB’s Coeure says QE gives Eurozone governments time to reform
- BOJ’s Kuroda says if yen moves in a way that reflects fundamentals then it shouldn’t be a negative for Japanese economy
- Japan’s Abe wants to create an environment where weak yen encourages higher wages
- Swiss sight deposits w/e Jan 30 CHF 383.3bln vs 365.5bln prev
- Talk of SNB aiming for a EURCHF target of 1.05-1.1000 may be wide of the mark
- Guest Trader Luke : Trading with a degree of success
- USDCAD triggers stops below 1.2700 as oil price rallies
Data:
- UK Markit mftg PMI Jan SA 53.0 vs 52.7 exp
- Eurozone Markit mftg PMI final Jan 51.0 vs 51.0 exp
- German Markit mftg PMI Jan final 50.9 vs 51.0 exp
- French Markit mftg PMI Jan final 49.2 vs 49.5 exp
- Italian Markit mftg PMI Jan final 49.9 vs 48.8 exp
- Spanish Markit mftg PMI Jan final 54.7 vs 53.8 in Dec
- Swiss PMI Jan 48.2 vs 50.4 exp
- Australia – Index of commodity prices for January: -0.9% m/m (prior was -3.4% m/m)
- Nikkei 225 closes down 0.66% at 17,558.04
- Shanghai Composite Index closes down 2.6% at 3128.30
… and indeed the month, as Greece-related headlines and another roller-coaster ride in CHF pairs gave traders enough to think about but with no real conclusions drawn
The session started with USDJPY still looking perky around 117.65 after the Asian bungee jump and has been stable since, finding support from EURJPY buying led by more SNB EURCHF talk
EURCHF had its now customary rally and touched new recent highs at 1.0590 with USDCHF posting 0.9307 before both settled back, but not before dragging EURUSD to 1.1355 from 1.1315 , EURGBP to 0.7565 from 0.7512 and EURJPY to 133.61
GBPUSD had a brief rally on better headline UK mftg PMI but a look behind the headlines gave some jitters as well as pairs such as GBPCAD running out of the steam. GBPUSD posted highs above 1.5070 but retreated back to 1.5005 while GBPCAD slid to 1.9003 from 1.9220 as USDCAD slid through 1.2700 as oil prices rallied again.
AUDUSD had a look above 0.7800 but didn’t like it with all focus on the RBA while NZDUSD traded in a 0.7250-.7300 range seeing first a rally then retreat.
Another busy session with the promise of more to come but it’s oh, so scrappy still
