Forex news from the European session 7 May 2018
- A collection of analysts reactions to US payrolls data
- ECB warn on trade tensions as Eurozone stumbles again
- German chancellor Merkel on the wires...
- Nasdaq futures up 0.6%
- USD/JPY tests Friday's high: currently at 109.29
- Euro bulls beware : poor Q1 data inching into May
- EUR/USD has room to drop: more bad data gives permission to roam
- Poor Italian PMI data adding to Eurozone woes
- Eurozone May Sentix investor confidence 19.2 vs 21 expected
- Cable continues to pivot around the 200-day moving average as UK traders are away
- Eurozone March retail PMI 48.6 vs 50.1 prior
- China April FX reserves $3.13T vs $3.14T prior
- Iran on the wires about nuclear deal
- Istat says that signals are growing that Italy's economy is slowing
- SNB total sight deposits w.e. 4 May CHF 575.9 bn vs CHF 575.2 bn prior
- Dollar index continues to march higher, what levels to watch out for next?
- Germany April Construction PMI 50.9 vs prior 47
- EUR/USD at lows before Germany's April PMI
- Switzerland April CPI +0.2% vs +0.3% m/m expected
- Surprise, surprise, look who's topping the major currency bloc in the new week
- European equities open a little mixed to kick start the week
- Switzerland April foreign currency reserves 757.1b vs prior 737.8b
- Switzerland April foreign currency reserves CHF 757.1 bn vs CHF 737.8 bn prior
- JP Morgan sees slower China GDP growth in 2H 2018
- Decisions, decisions...The Bank of England's options for Thursday 10th of May
- Australia April foreign reserves AUD 72.8 bn vs AUD 76.6 bn prior
- EUR/USD heads lower as the dollar gathers some steam
- Trade ideas thread May 7th 2018
- Eurostoxx futures +0.5% in early European trading
- Germany March Factory Orders MoM -0.9% vs 0.5% expected
- Nikkei 225 closes lower by 0.03% at 22,467.16
- May, May, and rate rises to go away...for good?
Market data:
- DXY +0.31% at 92.853
- Gold -0.17% at 1313.10
- Euro stoxx +0.05% at 3552.32
- Bitcoin -3.93% at 9290
- Oil +1.03% at 70.43
Oil consolidates below a four year high on the prospect of the US pulling out of the Iran nuclear deal. Iran was on the wires this am pretty annoyed about the prospect of the US pulling out and certainly not doing any work on diplomacy in ironing out any issues. The deal is looking on very shaky ground with Boris Johnson the latest in a long line of leaders to go and try and persuade Trump to not back out on the deal. Oil prices being supported on this news and it looks like there is more bids to come.
More poor data out for the Eurozone from almost all possible sources today. Germany April construction for April was down. This was for the poor Q1 period, so retrospective and not a surprise. However, it wasn't alone. The poor consumer confidence that Draghi was concerned about materialised in the Sentix investor confidence data miss. Italy was a drag on the eurozone and Eurozone march retail PMI cam in soft too. A bearish outlook for the EUR from multiple commentators citing multiple factors. More doom and gloom for the euro in this session...
In contrast the USD continued it's March higher with the DXY gaining more ground and the USD/JPY was up and testing Friday's highs. A bank holiday in the UK here, but still some movement in the markets.
