Forex trading news and economic data headlines 12 April 2017
US MBA mortgage market applications 1.5% vs -1.6% prior
OPEC's March oil output falls by 153kbpd in latest report (secondary sources)
We are only halfway through Greek talks says IMF's Lagarde
1st round Opinionway French election poll: Le Pen/Macron/Fillon 24/23/20
It's up to the ECB how they phase out accommodative monetary policy says Dijsselbloem
German economic institutes raise 2017 GDP forecast to 1.5% from 1.4% prev
Lavrov says Russia wants to know the White House's real intentions
BOE's Carney talks all things fin tech 12 April
UK March jobless claims change 25.5k vs -0.3k exp
German federal public prosecutor takes over investigation of bomb attack on Borussia Dortmund team bus
Spain March CPI final mm 0.0% as expected
Australia's Turnbull says China must do more to stop N.Korea threatening region
Trading ideas - European session 12 April
French government forecasts for 2017 GDP at 1.5% unchanged from prev
Option expiries for the 10 am NY cut today 12 April
Eurostoxx 50 futures up +0.4% in early European trading
Germany March wholesale price index mm 0.0% vs 0.5% prev
EU's Juncker says he rules out Italy leaving the Eurozone
Economic data coming up in this session 12 April
Xi stresses to Trump that Korean peninsula situation should be resolved by peaceful means
Asia catch-up: ForexLive Asia FX news: Yen higher in Asia
Being late to the party today I'm just picking up the pieces for this wrap. Currencies have been quiet with the biggest moves being around 20-30 pips.
The quid got a temporary boost from the jobs data and wages ticking up but that didn't last long. The heady highs of 1.2519 turned back to session los of 1.2480. Give or take a few shillings, we're bang in the middle of that range as I type.
EURUSD dropped from 1.6224 to test 1.0600 halfway through the session and sits on those lows right now. We've had a couple of peeps below but the support down to 1.0595 seems to be doing the job.
USDJPY has a roof on at 109.75 at the moment, yet there's no real impetus to push the price much lower. 109.57 od is as far as it's gone thus far, following the bounce from the day's lows. Even yen crosses are relatively stable.
Coming off of a few days break (but still keeping half an eye on markets), I would have expected bigger moves over the current geopolitical landscape. I'm surprised that all the talk over the US/NK thing hasn't hit markets harder. Maybe some see Trump and Kim Jong-un as two peas in the same crackpot pod. Not even roping China into the mix is worrying markets. That all might change on one comment so be cautious about that one.
The only highlight on the calendar today is the BOC and while no change is widely expected, the message will be important for the loonie.
