Forex news and economic data wrap 15 September 2016
News:
- SNB leaves key rates on hold
- SNB's Jordan won't comment on interventions
- Former European Council president Van Rompuy says Brexit talks unlikely to start much before end-2017
- BOE Preview: Tough call for Carney & Co today
- Pound rallies on retail sales data but sellers lurking again
- UK government approves Hinkley Point nuclear plant project
- Latest Reuters poll sees 35% chance of UK recession in coming year
- Indian rupee falls on devaluation talk
- India has no plans to devalue rupee
- Economists say it's time for Eurozone governments to step up to the plate - Reuters poll
- Option expiries for the 10 am NY cut today 15 Sept
- Nikkei 225 closes down -1.26% at 16,405.01
Data:
- August 2016 UK retail sales -0.2% vs -0.4% exp m/m
- Eurozone July trade balance SA +EUR 20.0 bln vs +22.0bln exp
- August 2016 Eurozone CPI final 0.2% vs 0.2% exp y/y
A busy little morning with enough opportunity to make a few pips as we wait on the BOE MPC announcement and a plethora of US data to follow.
The SNB came and went with nothing of note as expected but the pound found some early sellers as traders re-positioned/trimmed into the retail sales data and BOE. GBPUSD fell from 1.3240 to test 1.3200 with EURGBP up through 0.8500 only to retrace those moves on slightly better than expected readings. Since then its been a game of wait and see.
More summary on its way.
