Forex trading news and economic data headlines 5 May 2017
News:
- What will happen if we get another bad NFP number?
- We'll negotiate with the UK in full transparency says EU's Juncker
- More from Juncker: Slowly but surely, the English language is losing importance in Europe
- Merkel says damage from Brexit talks must be limited
- Buba's Dombret: London will remain a very important financial centre
- Goldman Sachs' Blankfein says both sides in Brexit negotiations playing for very high economic stakes
- UK local elections: Conservatives making early gains
- UK local elections: Conservatives gain at the expense of minor parties - Here's when the other results will come in
- Euro risk indicators are picking up ahead of the French second round election
- Guess the EURUSD gap on Monday MKII
- Le Pen's failure is complete as she gets demolished in final Opinionway poll
- EURUSD once again in option expiry focus
- Japan's Aso says US must be careful in raising interest rates
- BOJ's Kuroda: Output gap will put upward pressure on prices
- Saudi OPEC governor: There is a growing conviction that the oil deal needs to be extended
- Greek elections will happen in 2019 says Tsipras
- Greece's Tsipras starts sales pitching the latest bailout deal to his party
- Forex option expiries for the 10am New York cut 5 May
Data:
- April 2017 German Markit construction PMI 54.6 vs 56.4 prior
- April 2017 Eurozone retail PMI 52.7 vs 49.5 prior
- Spain March industrial output NSA yy 9.0 vs -1.7% prev
A scrappy session as we wait on NFPs but one that's seen the euro and equities give up a few of yesterday's gains.
Failure into 1.1000 has seen EURUSD retreat to 1.0953 just ahead of more option expiry interest while EURGBP has fallen back to test 0.8465 from 0.8509 and that's helped underpin cable above 1.2900 to post 1.2942.
USDCHF has taken advantage of a steady EURCHF though to rally to 0.9904 after holding 0.9850 while USDJPY had an early look at 112.00 but has since bounced to 112.43.
CAD and AUD have found some support from firmer commodity prices after yesterday's tumble but USDCAD did have an early look at 1.3800 before retreating.
Equities opened softer but have trimmed a few losses since.
US and Canadian jobs data at 12.30 GMT the next scheduled risk event but plenty of rhetoric so far throw in the mix and that's not going away any time soon.
