Forex news and trading headlines 6 Jan 2016
News:
- Normal service expected for NFP release - Livesquawk
- We never react after a single piece of data says ECB's Mersch
- China's capital outflow controls are short-term measures
- Weaker yen means BOJ now considering slight upgrade in CPI forecasts
- Mexican central bank intervenes to support peso
- Donald's up early with today's edition of #gettingTrumped
- PBOC will maintain prudent a neutral monetary policy in 2017
- Another step towards the BOE getting asked the right questions - More from John Hearn
- One day the data will matter to the euro
- Onshore USDCNY closes at 6.9230
- Option expiries for the 10 am NY cut today 6 Jan
- Nikkei 225 closes down -0.34% at 19,454.33
Data:
- November 2016 Eurozone retail sales -0.4% vs -0.4% exp m/m
- December 2016 Eurozone economic sentiment 107.8 vs 106.8 exp
- Q3 2016 UK unit labour costs 2.3% vs 1.7% exp y/y
- Germany factory orders November mm -2.5% vs -2.4% exp
- Germany retail sales November mm -1.8% vs -0.9% exp
- France November trade balance EUR -4.377bln vs -4.8bln exp
- Swiss forex reserves end-Dec CHF 645.33bln vs 647.761bln prev
After all the fun n games of recent session the price action has been far more subdued as traders and robots wait on US Non-Farm Payrolls at 13.30 GMT
So in brief USDJPY had one early move to 116.20 from 115.80 in a rush then on to 116.40 before running out of steam. EURUSD traded around 1.0585 for a while then had a test of 1.0600 but didn't like it and retreated.
Early euro demand saw EURJPY above 123.00 finally only to head back lower but EURGBP has moved steadily higher to post 0.8574 from 0.8540 and that's helped push cable lower to 1.2343 as I type having failed to breach 1.2400.
USDCNY closed higher, up +0.6% onshore while equities have been soggy but oil/commodities generally firmer.
AUDUSD and USDCAD have remained underpinned in the dips with large option expiry interest at 1.3300 in play.
Plenty of data out from across the pond in addition to the NFPs so we should get some decent levels of action and volatility later.
