Forex trading news and economic data headlines 26 April 2017
News:
- Latest UK election poll has Conservative Party on 49%
- We should be under no illusions about the scale of the task ahead says Brexit's Davis
- Hollande sends out his ministers to muzzle Le Pen
- Le Pen fights back in the Opinionway French election poll
- BTFD's in play for EURUSD for now
- Merkel maintains her lead in latest German election poll
- EURUSD dips under 1.0900 as risk softens
- German government raises 2017 GDP forecast to 1.5% vs 1.4% prior
- Canada's Freeland says lumber dispute with US is "sadly familiar"
- Nippon-Life says it will increase foreign bond holdings without currency hedge depending on USDJPY rate
- Japanese and Chinese finance ministers to meet on 7 May
- China's Li wants concrete efforts to maintain financial security
- Credit Suisse beats Q1 profit forecasts but looks to raise CHF 4bln
- Option expiries for the 10 am NY cut today 26 April
- Nikkei 225 closes up +1.1% at 19,289.43
Data:
- US MBA mortgage applications 2.7% vs -1.8% prior
- France April consumer confidence index 100 as expected
- Switzerland CS April ZEW survey expectations 22.2 vs 29.6 prev
- Switzerland UBS March consumption indicator 1.50 vs 1.45 prev
- Japan March machine tool orders yy final +22.8% vs 22.6% exp
Lessening of risk appetite, taking some money off the table, time for a reality check. Perm any one from three but it's a bit of all them this morning with Trump tax talk in focus too.
EURUSD failed around 1.0950 in Asia and EURJPY at 122.00 with EURGBP testing some resistance around 0.8530 and that has encouraged desks to take a bit of profit down to test support lines around 1.0883, 120.96 and 0.8484.
USDJPY gave up on an further advance through 111.50 and has fallen back to 111.12 while USDCHF has found support at 0.9920 but capped at 0.9950 as CHF safe-haven demand returns and EURCHF falls to 1.0828 from 1.0870.
USDCAD has paused for thought between 1.3550-80 after yesterday's Trump tariff spike to 1.3626. AUDUSD failed above 0.7550 in Asia with the tariff fallout also an issue combined with softer inflation data which has seen a move lower to 0.7490.
Oil has generally been pedalling backwards with equities also in negative territory.
Canadian retail sales at 12.30 GMT the only data risk of note to come but it's all eyes on the Trumpster and his tax plans.
