Forex trading news and economic data headlines 22 March 2017
News:
- BOE survey: The fall in the pound is passing through into manufacturing and inflation
- Kuroda says he told G20 that BOJ will continue powerful easing
- Japan's Aso says extreme FX moves happening too much
- BOJ's Funo says yield curve control having positive impact on economy
- ECB's Villeroy says policy is working and progressing towards objective
- Opinionway poll shows Le Pen dropping in the 1st round
- What are the banks now saying about the euro?
- Russia's Putin to meet with central bank boss Nabiullina today
- GBPUSD holds 1.2450 again after failing above 1.2500
- Sellers take the momentum in the EURUSD tug of war
- Italy's Monti says the noise in Italy is for leaving the euro
- Option expiries for the 10 am NY cut today 22 March
- Nikkei 225 closes down -2.13% at 19,041.38
Data:
- Eurozone January current account NSA EUR 2.5bln vs 46.9bln prev
- US MBA mortgage applications -2.7% vs 3.1% prior
A session that's seen the continuation of a theme with risk-off sentiment producing yen demand and capping early rallies in core pairs too.
Equities have tumbled as have oil prices amidst a general reality-check on what's transpiring across the pond. Seems like markets only now starting to feel the fear but we wait to see how further it can all go.
In the meantime though USDJPY has fallen to 111.14 and the fall in yen pairs has seen GBPUSD retreat to 1.2454 from 1.2507, EURUSD back to 1.0776 from 1.0818 and AUDUSD remaining on the back foot to post 0.7639 before all core pairs once again ran into dip-demand and been steady since.
USDCAD has been up to 1.3410 from 1.3360 as oil prices retreat again adding to the CADJPY supply to weaken the loonie further after yesterday's gains helped by strong retail sales data.
Lots of hot air again from Japan's movers ( but not necessarily shakers) but markets have not been frightened by talk of "extreme moves", basically because there haven't been any.
US existing home sales and crude oil inventories the only data reports of note to come but there's plenty of other stuff going on to create a few opportunities.
