Forex news and trading headlines 27 Jan 2016
News:
- EC says they will not comment on Eurobonds story
- German finance ministry rejects EU's plans for new Eurobonds
- Hammond says UK remains a "fully engaged member of the EU"
- Trump and Putin will speak on the phone tomorrow
- Turkish lira weakens again after Erdogan comments
- EURUSD perks up to look at 1.0700
- Option expiries for the 10 am NY cut today 27 Jan
- Nikkei 225 closes up +0.34% at 19,467.40
Data:
- Eurozone December M3 money supply yy +5.0% vs +4.9% exp
- Germany December import price index mm +1.9% vs +1.3% exp
- December 2016 Italian hourly wage inflation 0.0% vs 0.0% prior m/m
- Italy January consumer confidence index 108.8 vs 110 exp
- Spain December retail sales SA yy +2.9% vs +3.2% exp
A busy but scrappy session to end the week and one that's offered precious few new clues as to next direction. USD demand prevailing overall though.
Early USD demand was once again led by USDJPY heading up through 115.00 in late Asia an we went on to post 115.31 before nudging back down to 114.95. GBPUSD came down through 1.2550 triggering stops to 1.2530 but found solid defence down there. Yen plays continue to dominate with GBPJPY once again in focus.
EURUSD had an early dip to test 1.0660 but found itself caught up in the cross-play crossfire of EURGBP demand, EURCHF selling into 1.0700 vs EURJPY two-way. Offers/res at 1.0700 have so far capped the subsequent rally.
Equities have done little of note but oil retreated and that helped put a bid under USDCAD at 1.3100 but has since traded tightly as oil levels out and USD sees good two-way business.
USDCHF has once again been undermined by EURCHF selling but both pairs have found dip demand with possibly a touch of SNB help.
AUDUSD range has also been tight but support found into 0.7500 after the gold retreat-led dip.
US Q4 GDP and durable goods orders the data risk on the horizon at 13.30 GMT with the Trump/May presser at 18.00 GMT
