Forex trading news and economic data headlines for the European morning session 15 June 2016
News:
- What happens next if UK votes for Brexit?
- Japan's Inada says they are closely watching Brexit referendum
- BMG say latest poll results attributed to them are a hoax
- The ForexLive Brexit countdown: 8 days to go as GBPUSD hedging eclipses all prior risk events
- MAS survey sees USDSGD at 1.4000 end-2016
- GBPJPY demand sets the tone as equities recover some poise
- AUDUSD chews through 0.7400 offers but more laying in wait
- Option expiries 10 am NY cut today 15 June
- Nikkei 225 closes up +0.38% at 15,919.58
Data:
- May 2016 UK labour market report: Claimant count -0.4k vs 0.0k exp
- France CPI May mm final +0.4% as flash
- April 2016 Eurozone trade balance 27.5bn vs 26.0bn exp
- China M2 money supply May yy +11.8% vs +12.5% exp
- Japan machine tool orders May final yy -24.7% vs -25.0% flash
A session that's seen a little risk appetite return as equities steady and yen selling has been the main theme.
It's been a quieter morning than most recently but still with opportunities for those keen/interested enough intra-day to take advantage.
Once again GBPJPY has been a prime mover with a decent rally leading the way and pound strength found an ally in positive wages/jobs data. GBPUSD has been up to test good resistance/offers around 1.4220 but ran out of steam. Similarly EURGBP had a look under 0.7900 but has found support so far. GBPJPY posted 151.20 before it too got tired.
EURUSD clawed its way higher to post 1.1236 led by EURJPY buying and has looked generally underpinned since across the board albeit failing to make fresh advances while USDCAD had an initial wander upstairs as oil prices retreated before both reversed.
USDJPY meanwhile has remained supported by the yen-pair selling but failed at 106.40 and retrtreated, the same story across the board with markets not wanting to get too extended ahead of the FOMC at 18.00 GMT
No change expected but as always we'll comb the small print for further clues.
