Forex news for European trading on May 29 2017
News:
- ECB's Nowotny says economic growth post-crisis has been modest by comparison
- More from Nowotny: Shouldn't speculate on outcome of June ECB meeting
- ECB's Villeroy says Eurozone banking union must be completed
- Merkel considers it necessary to address G7 differences
- SNB total sight deposits w-e 26 May CHF 575.973 bln vs 575.09 bln prev
- Forex option expiries for the 10am New York cut 29 May
- More option expiries of note this week 30 May - 2 June
- Nikkei 225 closes down -0.02% at 19,682.57
- ForexLive Asia FX news: UK polls, North Korea ... AsiaFX don’t care
Data:
- Eurozone April M3 money supply yy +4.9% vs +5.2% expected
- Switzerland Q1 non-farm payrolls +0.4% yy
- Spain April retail sales yy SA +1.8% vs +1.2% exp
A quiet start to the week as European traders/bots take advantage of the UK and US holidays today to have a lazy one of their own.
Ranges have been limited across the board with little of note either in price action or trend.
GBPUSD and EURUSD have both nudged their way higher from 1.2825 to 1.2849 just ahead of decent offers/res, and 1.1165 to 1.1190 respectively. 1.1200 still a step too far for the moment at least.
USDJPY has traded tightly between 111.25-40 with USDCHF drifting down from 0.9760 to 0.9732 and then failing on a rally at 0.9750 and drifting back to 0.9735.
AUDUSD similarly drifted to 0.7428 from 0.7445 and USDCAD down to 1.3442 from 1.3466.
Oil has been steady with WTI drifting gently off from $49.88 to $49.52 and Brent $52.27 down to $51.86 while equities opened softer and have remained on the back foot with bond yields rising.
So you get the picture. Can't make a silk purse from a sow's ear. It is what it is.
Worry not though. There'll be plenty of opportunity as the week progresses and yet might happen today with Draghi up to speak at 13.00 GMT
