Forex trading news and economic data headlines for the European session 21 June 2016
ForexLive Asia FX catch up: Conflicting Brexit polls - choppy GBP
- June 2016 UK CBI industrial trends orders -2 vs -10 exp
- EU approves 6 month extension to Russian sanctions
- June 2016 German ZEW economic sentiment 19.2 vs 4.7 exp
- May 2016 UK PSNB 9.141bn vs 9.350bn exp
- PBOC says China still faces "relatively large" downward pressure
- German court throws out ECB OMT challenges
- The one Brexit voice that matters has made his choice - David Beckham will vote to remain
- Latest Brexit poll has European traders ( and robots) buying the pound again
- ECB meeting today to discuss Brexit contingency measures
- Switzerland trade balance May +CHF3.79bln vs +CHF2.51bln prev
- More from Abe: Monetary policy is down to the BOJ
- Option expiries 10 am NY cut today 21 June
- Japan's Abe says top priority is to completely exit deflation and grow the economy
- Japan All Industries Activity index April mm +1.3% vs +1.2% exp
The pound machine rolls on as expectations remain firm that the UK will vote to stay in Europe. We tacked on another 100+ pips from the session opening levels to touch 1.4783, just surpassing the early May high at 1.4769. A stark warning from a couple of potholes hit late in the US day are still in force if you're trading this.
The euro hasn't done much in a rough 25 pip range, though as I type we're breaking through minor support at 1.1325 to 1.1312 to make that range 38 pips.
Commodity pairs have been adding gains. AUDUSD topped out after grabbing 4 pips above 0.7500. NZDUSD reached the highest for a year at 0.7161. USDCAD has fallen to lows of 1.2663. Oil has found its way out of its recent 6 buck slump with Brent retaking the $50 level. Stocks are just about holding their gains in Europe.
The Brexit frenzy has probably worked itself to exhaustion so we're seeing episodes of calm between any newsworthy comments. Aunty Janet might take our minds off it for a while as she kicks off her bi-annual testimony to the Senate Banking committee. Personally I don't know what's worse, continued Brexit rubbish or listening to her for 8 hours. I think I'm going to go and live under the stairs until Monday :-D
