Forex trading news and economic data headlines 1 March 2017
US MBA mortgage applications 5.8% vs -2.0% prior
Pound wobble tied to Brexit bill shenanigans
Fillon denies any wrong doing but will face judges later this month
Pound goes for a wander as cable drops a quick 40 pips
Macron puts the screws on Le Pen in French first round election Opinionway poll
Trump trumped by Fed speakers leaves the dollar looking hopeful
Fillon's wife held for questioning - Reuters
January 2017 UK mortgage approvals 69,928 vs 68,650 exp
February 2017 UK Markit/CIPS manufacturing PMI 54.6 vs 55.6 exp
February 2017 German regional CPI: NRW 2.3% vs 2.1% prior y/y
European manufacturing stops the rot in EURUSD for now
February 2016 German region CPI: Brandenburg 2.0% vs 1.7% prior y/y
February 2017 Eurozone Markit manufacturing PMI 55.4 vs 55.5 exp
February 2017 German unemployment rate 5.9% vs 5.9% exp SA
February 2017 German Markit/BME manufacturing PMI 56.8 vs 57.0 exp
February 2017 France Markit manufacturing PMI 52.2 vs 52.3 exp
February 2017 Italy Markit/ADACI manufacturing PMI 55.0 vs 53.5 exp
France's Fillon called in to speak to judges - Livesquawk
February 2017 Swiss Markit manufacturing PMI 57.8 vs 55.6 exp
February 2017 Spain Markit manufacturing PMI 54.8 vs 55.8 exp
February 2017 German regional CPI: Saxony 2.4% vs 2.3% prior y/y
UK house prices rise in February
Economic data due 1 March 2017
Trade ideas thread - Europe/UK version! Wednesday 1 March 2017
German SPD trims Merkel's lead in Forsa poll
Nope, no currency manipulation here. Not us, says Taiwan central bank
Trump spoke overnight in the US (addressed Congress) - recap
Goldman Sachs says RBA to begin winding back its "very" accommodative rates
US pull-out from Pacific trade deal hurts confidence, Singapore PM tells BBC
Manufacturing PMIs out from Russia and Ireland, both drop m/m
Australia data: AUD Commodity Index for February down from January
More from BOJ's Sato: Most appropriate yield curve would be a little steeper
Adviser to Japan PM Abe says any US border tax should not violate AWTO rules
Japan finance minister Aso: Economic growth is more important than fiscal balance
The dollar was taking a breath from it's Fed head induced gains overnight and some serenity was laying across a lot of the market.
USDJPY was sitting close to it's highs around 113.60/65 and late in the session pushed up to the current high of 113.87. There may be some early US catching up to do from last night so the favoured direction is up as we head into the yank session.
EURUSD had been holding it's lows around 1.0526 but couldn't find the legs to push up meaningfully. 1.0545/50 marked the top and some late mild US strength means we're back feeling out the lows once more. As usual, a half decent batch of reports from the European manufacturing sector couldn't lift the euro at all and we're still ignoring inflation, which rose in the German regions once again. The euro took the Fillion news that he was staying in the presidential race like a slap round the face and also aided this move lower.
GBPUSD take a late morning bath from 1.2360 and has just grabbed 3 pips under 1.2300 as I type. There's some news about the government losing on a clause in the Brexit bill but the details suggest these moves are overkill. However, fading Brexit news is not something to take lightly when most of the market doesn't understand the mechanics of this bill.
EURGBP is obviously on the flip side of this move and it's broken above yesterday's highs around 0.8550 by a few pips. GBPJPY is also suffering.
Elsewhere, the aussie isn't making hay after it's GDP numbers and is stuck around 0.7654. European stocks are shining brightly with decent gains.
