Forex trading news and economic data headlines 3 February 2017
The ECB is to blame for all our problems says Schaeuble
Italy starts reading from the Trump playbook on protectionism
Herr Schaeuble bites back
BOJ gives USD traders a boost to take into NFP
January 2017 Italian HICP flash 0.7% vs 0.8% exp y/y
December 2016 Eurozone retail sales -0.3% vs 0.3% exp m/m
January 2017 UK Markit/CIPS services PMI report 54.5 vs 55.8 exp
Paris: Soldier opens fire on man with suspicious suitcase at the Louvre - Rtrs
January 2017 Eurozone Markit services PMI final 53.7 vs 53.6 exp
January 2017 German Markit services PMI final 53.4 vs 53.2 exp
France Markit Jan services PMI final 54.1 vs 53.9 exp
Italy Markit/ADACI January services PMI 52.4 vs 52.5 exp
Trading ideas -European session 3 Feb
China's foreign ministry says they have never used yuan for trade advantage
PBOC will keep mon pol generally prudent and stable
Nikkei 225 closes up +0.02% at 18,918.20
Economic data coming up in this session 3 Feb
BoE's Broadbent: Higher confidence after Trump victory will help UK economy
Twas services day across Europe and many countries gave up some of the good gains made in Dec. That was the case in mainland Europe and the Eurozone but it had negligible effect on the euro. EURUSD had been offered all morning in the face of a stronger USD all round. we hovered around the early morning lows at 1.0745/50 before creeping lower to 1.0728 as I type, in the face of that USD strength.
USDJPY is treading water around 113.17 after it's BOJ inspired run overnight. Some weakness in yen pairs now look to keep it in check as the dollar rallies elsewhere. USDCHF is close to the day's highs of 0.9975, USDCAD is positing new highs at 1.3047.
GBPUSD got a soggy services number that wiped out all of December's good work, and that tipped the quid through 1.2500 to 1.2480. Not to long after that a move to 1.2466 followed and that's marked the low so far. 1.2480 we trade now.
Market moving headlines have been few and far between but Trump's due to sign an executive order to undo some of Dodd-Frank today so that might help bank stocks when the US opens. Non-farm payrolls is the main item on the calendar today, and the wages component will once again likely be the bigger number to watch than the change in payrolls, unless we get something right out of left field.
