Forex trading news and economic data headlines 2 March 2017
UK's May says she has been clear that the "Brexit Bill" should be passed without amendment
Fillon undamaged by yesterday's news in Opinionway French election poll
The euro finds no friends in inflation data
More from the order boards 2 March
January 2017 Eurozone PPI 0.7% vs 0.6% exp m/m
February 2017 Eurozone CPI flash 2.0% vs 2.0% exp y/y
Eurozone January unemployment rate 9.6% vs 9.6% exp
Aussie, Kiwi and Canadian dollar all tumble in early European trading
UK Markit/CIPS February construction PMI 52.5 vs 52.0 exp
Option expiries for the 10 am NY cut today 2 March
January 2017 Italy unemployment rate 11.9% vs 12.0% exp
Switzerland January retail sales real yy -1.4% vs -4.1% prev
February 2017 Spain unemployment change -9.4k vs 4.6k exp
Q4 2016 Spain GDP final 0.7% vs 0.7% exp q/q
FTSE 100 announces changes to its constituents, effective 20 March
Japan's Seko: Reports about GPIF investing in US are absurd
January 2017 German import prices 0.9% vs 0.4% exp m/m
Q4 2016 Swiss GDP 0.1% vs 0.5% exp q/q
Nikkei on the gravy train as it closes at the highest in over a year
The battle is on between the Fed trade and Japanese repatriation
The "Here's how I'm going to make buckets of pips" trade ideas post
Economic data due 2 March 2017
New head of China’s banking regulator pledged to crack down on shadow lending
Not an awful lot happening since I took over from the Thunder from Downunder. The biggest mover today was from AUDUSD which fell from the highs around 0.7660 down to the current low of 0.7611. We're still in this 0.76/0.77 range. That move looked commodity based to start off with but it's also being backed by ongoing USD strength.
The buck is not straying far from its highs in a lot of pairs right now, the dip buyers are out in force and that's forcing the euro to remain under pressure. As I type it's making a new low at 1.0517 and it's had no help, particularly from the latest inflation data. Eyes are on 1.0500 now as the big support level.
GBPUSD if fairing a bit better but only for the reason, it's not making new lows as we see a small ripple of USD strength. We're firmly between 1.2300 and decent support at 1.2260, which is a tight range for the quid to sit comfortably in.
USDJPY is stuck to the highs around 114.30, and the best dip you could have grabbed today after that was 114.12. That's a clear as day signal which way the market is leaning right now. There's talk of some very heavy orders from Japanese exporters and other repatriation traders from 114.50 to 115.00 and they'll be battling with the Fed trade crowd.
Yen pairs are largely behaving themselves, as is EURGBP. USDCAD is looking like it want's to have a go at 1.34 as USD dips are also very shallow here.
European stocks are taking a breather after yesterday's gains but we'll let the yanks lead us in those markets. US stock futures are largely flat to small down.
