Forex trading news and economic data headlines 27 April 2017
News:
- Merkel agrees that Brexit talks can only begin after UK elections
- German inflation could make Draghi feel hot under the collar today
- Preview: Have the ECB enough ammunition to cause any upsets today?
- WE ARE READY says EU's Barnier
- Debt relief will be needed for Greece says Dijsselbloem
- BOJ's Kuroda says they will adjust policy if needed to maintain price target momentum
- More from Kuroda: Expects wages to continue rising in Japan
- Even more from Kuroda: Inflation expectations are weak and trend will be closely monitored
- Le Pen starts to turn the screw on Macron in Opinionway poll
- SNB reports Q1 profits of CHF 7.9bln
- RBA's Lowe says house prices in Australia affected by inflow of Chinese money
- Oil market rebalancing is heading in the right direction says OPEC's Barkindo
- USDCAD on the rise again as option expiries cast their shadow
- Sweden's Riksbank leaves repo rate at -0.5% but extends QE by SEK 15bln
- Singapore central bank - economic outlook improved slightly
- Option expiries for the 10 am NY cut today 27 April
- Nikkei 225 closes down -0.19% at 19,251.87
Data:
- April 2017 Eurozone economic sentiment 109.6 vs 108.1 exp
- Saxony April CPI mm -0.1% vs +0.2% previously
- Brandenburg April CPI mm -0.1% vs +0.3% prev
- April 2017 German NRW CPI 2.1% vs 1.7% prior y/y
- April 2017 German Baden W CPI 2.0% vs 1.6% prior y/y
- Germany May GFK consumer confidence 10.2 vs 9.9 exp
- April 2017 UK CBI distributive trade sales 38 vs 6 exp
- Spain April CPI flash mm 1.0% vs 0.9% exp
- March 2017 Italian non-EU trade balance 4.14bn vs 1.72bn prior
- Italy April mftg confidence 107.9 vs 107.3 exp
- Switzerland March trade balance CHF +3.1bln vs 3.12bln prev
EURGBP has been the biggest faller but generally there's some money coming off the euro table as we wait for the ECB policy announcement and presser. A busy session been had.
EURGBP flew in the face of month-end demand and sank from 0.8480 through yesterday's 0.8460 lows to post 0.8443 and that gave a bid to GBPUSD to send it up through 1.2885, then 1.2900 before failing at 1.2918 just ahead of decent offers/res.
EURUSD meanwhile chewed its way lower to test 1.0890 having given up its rally at 1.0920 but was given a little support from EURJPY as USDJPY found a few dip buyers again.
USDCAD had found support around 1.3530 and then proceeded to ramp higher to 1.3600 from 1.3550 with large option expiries in play at both those levels.
USDCHF has been tightly bound with gains capped by EURCHF losses while AUDUSD has failed into 0.7500 to fall and post 0.7469 before steadying.
German inflation at 12.00 GMT and US durable goods at 12.30 GMT but it's all eyes on the ECB
