Forex trading news and economic data headlines for the European morning session 16 June 2016
News:
- BOJ's Kuroda says economy continues to recover moderately as a trend
- Kuroda on FX: BOJ watching currency movements carefully
- More from Kuroda: BOJ will closely monitor impact of Brexit vote
- Kuroda says BOJ policy is not helicopter money
- Japan's Suga says sudden, speculative moves in markets are undesirable
- USDJPY 104.00 barrier option popped as BOJ fail to deliver
- Yen sellers return as traders take some money off the table
- ECB ready to add liquidity if UK votes for Brexit
- Latest IPSOS-MORI poll has Leave in front on 53%
- Eurogroup will not discuss Brexit contingency
- BOE's Carney hits back at Leave campaign critics
- SNB leaves rates on hold
- SNB pledges to remain active in FX market
- SNB's Jordan says they are ready to take additional measures if UK vote Leave
- SNB's Jordan says Brexit is not their base case scenario
- SNB's Maechler says they have a full team on duty following Brexit developments
- More from Jordan: Global co-ordinated policy action is a rare option
- Swiss government leaves 2016 GDP forecast unchanged at +1.4%
- SNB says prolonged period of low interest rates carries risk for global financial stability
- ECB Monthly Bulletin: Ready to use all instruments within mandate if needed
- We have a significant output gap in Europe says ECB's Visco
- IFO say robust upturn seen in German economy since 2014 will continue
- Earthquake of 5.3 magnitude hits Hokkaido
- Option expiries 10 am NY cut today 16 June
- Fitch revises outlook for Japanese financial institutions to Negative
- Nikkei 225 closes down -3.05% at 15434.14
Data:
- May 2016 Eurozone CPI final -0.1% vs -0.1% exp y/y
- May 2016 UK retail sales 0.9% vs 0.2% exp m/m
It's been another bonkers morning.
Far too much price action to detail it all but the gist has been yen strength in the BOJ fall out taking USDJPY down to 103.55 from 104.65 taking out the 104.00 barrier option in its stride. Yen pairs all fell forcing core pair lows before traders took money off the table and we saw USDJPY back up to 104.40 .
The euro has been under the cosh again on potential Brexit fallout and we've seen EURUSD move lower to test strong support at 1.1170 having failed to get back through 1.1300 and triggering stops through 1.1250.
EURGBP had a sharp rally into 0.8000 on flows only to return just as sharply to 0.7940 before a bounce to 0.7975 all around the release of the latest Brexit poll. GBPUSD is taking out 1.4100 support/bids as I type.
Since USDJPY found a base into 103.50 it's been a case of general USD demand that's seen AUDUSD fall to 0.7346 and USDCAD up through 1.3000 as oil and gold remain on the back foot.
US data to follow but there's bigger items on the agenda right now.
