Forex trading news and economic data headlines for the European session 23 June 2016
News:
- The day of reckoning has finally arrived as UK voters head to the Brexit referendum polling booths
- Mike Paterson on how to ACT on orders and options
- Evening Standard Brexit poll 48% leave 52% remain
- This just in, the Brexit vote decision from one of the Undecideds
- Here's the full schedule for Brexit results
- Crosses in control as yen gets thrown out the window
- There's only one place you really want to be today and that's in our Brexit webinar
- Barclays has ceased accepting new auto stop loss orders on currencies - RTRS
- China's Li says he's satisfied with CNY exchange rate reform
- BOJ's Kiuchi says there are limits to what monetary policy can do on its own
- RBNZ says low inflation has been key puzzle in New Zealand economy
- Option expiries 10 am NY cut today 23 June
- Nikkei 225 closes up +1.07% at 16,238.35
Data:
- Eurozone Markit mftg PMI June flash 52.6 vs 51.4 exp
- Germany Markit/BME mftg PMI June flash 54.4 vs 52.0 exp
- France manufacturing confidence June 102 vs 103 exp
- France Markit mftg PMI June flash 47.9 vs 48.7 exp
- Italy industrial orders April mm +1.0% vs -3.4% prev
- May 2016 Italian non-EU trade balance flash 3.26bn vs 3.60bn prior
- Japan leading index CI April final 100.00 vs 100.5 flash
Wow, feels like I've been typing non-stop for the past 7 hours. Ah, that's right I have. lol
If you've been impressed by the volatility of the warm-up show just wait until later for the real fireworks.
The session began with a sharp risk-off move that saw GBPJPY fall rapidly forcing core pairs lower. USDJPY dropped into 104.00 from 104.70 and cable posted 1.4730 from 1.4785. The move also saw EURJPY plummet putting the euro under pressure across the board and EURUSD posting 1.1320 from 1.1350.
Since then it's all been risk-on as Brexit polls and chatter see a real conviction for Remain to be the outcome and it's been one-way traffic by and large to 1.4948, 1.1422, 105.87 in the core pairs with yen-selling leading the way.
The moves have also seen AUDUSD test 0.7600 NZDUSD 0.7255 and USDCAD fall to 1.2678 with core pairs all benefitting from the yen-pair demand.
Equity markets have all raced higher on the feel-good sentiment while oil too has needed little excuse to make gains further adding to CAD demand.
Loads going on and too much to post in detail but caution is very much advised. We have a momentous trading period ahead.
