Forex news and economic trading headlines 30 August 2016
News:
- US Fed's Fischer says central banks can't say "one and done" on rate hikes
- German government official says G20 yet to decide on whether to discuss currencies
- Boosting jobs, growth and investment should remain at the top of G20 agenda say EU chiefs
- Japan's Suga says government watching markets closely and ready to respond appropriately
- More from Suga: G7 has agreed to act against excessive FX moves
- Japan's Hamada says rolling back BOJ easing in Sept would be "worst decision"
- Moody's affirms Japan's A1 rating, outlook Stable
- Germany's Steinmeier says UK/EU need " new, fair and binding"rules for post-Brexit relationship
- PM Trudeau says China "critically important" for Canadian growth
- Apple gets told to pay EUR 13bln in settlement of illegal tax benefits
- France's Hollande says TTIP talks are "bogged down and remain too unbalanced"
- EIB's Hoyer says he'd regret TTIP not advancing
- French trade minister says current round of TTIP talks should be halted
- France's economic minister Macron to quit government
- Nikkei 225 closes down -0.07% at 16,725.36
- Option expiries 10 am NY cut today 30 August
Data:
- UK mortgage approvals July 60.9k vs 61.9k exp
- Saxony CPI mm -0.1% vs +0.3% prev
- Baden-Wuerttemberg CPI Aug mm -0.1% vs +0.3% prev
- North Rhine Westphalia CPI Aug mm 0.0% vs +0.2% prev
- Bavaria CPI mm 0.0% vs +0.2% prev
- Spain CPI Aug flash mm +0.1% as expected
- Eurozone consumer confidence Aug final -8.5 vs -8.5 exp
- Germany import price index July mm +0.1% vs -0.1% exp
- Italy retail sales June mm +0.2% vs -0.2% exp
- Switzerland KOF leading indicator Aug 99.8 vs 102.00 exp
Plenty of noise on TTIP, G20 and a few comments from US Fed's Fischer but all in all we've had a tight range-trading session so far.
The greenback has been mostly underpinned but with USDJPY running into 102.50 offers/res again, EURUSD support at 1.1150 and GBPUSD with good demand at 1.3050 it's been a case of range trading again.
Option expiries on USDJPY at 102.40 helped to provide US$ supply along with less than hawkish comments from US Fed vice-chair Fischer but the sell off was short-lived. Rallies in GBPUSD and EURUSD saw 1.3105 and 1.1177 from 1.3080 and 1.1166 while AUDUSD jumped 18 pips to 0.7568 and USDCAD fell 20 pips to 1.3020.
The euro has generally been on the back foot with softer German regional CPI data ahead of the main number at 12.00 GMT
All in all it's been slow but once again there's been opportunity for those keen enough to trade the moves.
US consumer confidence the data highlight from across the pond at 14.00 GMT
