Forex news from the European trading session - 5 Feb 2018
News:
- No reprieve for cryptocurrencies amid equities rout
- Llyods bans credit card customers from purchasing cryptocurrencies
- Barnier says UK must respect EU's red lines
- South Korea's NIS says North Korea has been trying to steal cryptocurrencies - Yonhap
- Both options on future EU/UK customs arrangement remain on the table
- SPD's Schulz says would-be coalition partners reach agreement on European section of talks
- BOJ's Kuroda: No change to approach in quantitative easing
- Pound falls further after soggy UK services sector data
- BOJ's Iwata: Important to achieve mid to long-term fiscal health
- Bond rout into equities rout; the hows and whys behind it
- Japan PM Abe: 2% inflation is a global standard
- Yields continue to break higher in Europe
- USD/JPY twists and turns around 110 but buyers still poised
- Currency markets suffering a bit of a NFP-hangover
- Eurostoxx futures -1.1% in early European trading
- BUBA's Dombret says public budgets in many EZ countries remain vulnerable to shocks
- Moody's: Healthcare challenges could impact Europe's fiscal and credit position
- NAB says that the dollar bounce will be short-lived
- SNB total sight deposits w.e. 2 Feb CHF 574.7 bn vs CHF 575.0 bn prior
- Trading ideas for the European session
- Nikkei 225 closes lower by 2.55% at 22,682.08
- ForexLive Asia FX news: Early US dollar strength retraced
Data:
- UK Markit/CIPS January services PMI 53.0 vs 54.1 exp
- Eurozone Markit January services PMI final 58.0 vs 57.6 exp
- Germany January final services PMI 57.3 vs 57.0 prelim
- France Markit January services PMI final 59.2 vs 59.3 exp
- Eurozone December retail sales m/m -1.1% vs -1.0% expected
- Italy January services PMI 57.7 vs 56.0 expected
- Eurozone February Sentix investor confidence 31.9 vs 33.2 expected
- Spain January services PMI 56.9 vs 55.4 expected
A soggy start to the week for pound pairs while Bitcoin/cryptocurrencies post further losses. Equities continue to tumble too.
Early GBPUSD rally from 1.4105 capped at 1.4145 and we've been down to 1.4037 on soggy PMI data and Brexit concerns with EURGBP moving up to 0.8865 from 0.8815
EURUSD has fallen back to 1.2445 from 1.2476 with large option expiries at 1.2350 and 1.2550 containing the range. Draghi delviers ECB 2016 accounts to EU Parliament at 16.00 GMT
USDJPY had fallen back from failing above 110.00 again but remained underpinned around 109.80 but we've seen USDCHF up to 0.9322 from 0.9290 with EURCHF up to 1.1600 from 1.1575.
USDCAD has made steady progress from 1.2400 to 1.232443 while AUDUSD has recovered from 0.7890 Asian low to 0.7930 and NZDUSD down to 0.7295 from 0.7330 before finding some dip demand.
European equity markets and US futures both posting losses again as the soft trend continues. DAX,FTSE, and CAC40 all down over 1%
Bitcoin has fallen back through $8000 again to test $7500 as the cryptocurrency rout continues.
Only data risk to come is US PMI and ISM at 14.45 and 15.00 GMT
