Forex news and economic headlines 25 April 2016
News:
- Japan's Aso to present an extra budget by mid-May
- PBOC adds 275bln yuan in liquidity via MLF operations but rate remains unchanged
- IMF says it's encouraged by the Gulf's economic reform plans
- ECB's Nouy says there still challenges ahead for banking regulation
- Bangladesh Bank hackers compromised SWIFT software, warning to be issued
- Cable range of 1.40-1.45 still intact but GBP demand noted
- Option expiries 10am NY cut today 25 April
- Nikkei 225 closes down -0.76% at 17,439.30
Data:
- Germany IFO business climate April 106.6 vs 107.1 exp
- Spain PPI March mm +0.7% vs -1.3% prev
- UK CBI industrial trends orders April -11 vs -15 exp
- Japan leading index CI Feb final 96.8 vs 99.8 flash
Weekend comments/interference (you can decide) on Brexit from US president Obama gave a sharp kick higher for the pound in Asia in thin trading conditions.
Late Asia/early Europe saw some reversal but overall the pound has looked quite perky with GBPUSD bouncing back above 1.4450 from lows of 1.4403. EURGBP is back down to 0.7786 from highs of 0.7812 after the 0.7752 lows in Asia.
Jury still out but the EURGBP supply has been undermining EURUSD gains which chewed its way to 1.1262 before retreating. Inherent dip-demand from EURJPY though on general yen weakness and some knock-on from softer equity markets have helped provide a platform of sorts.
USDJPY has traded tightly after its Asian falls from the heady highs of 111.92 with the Nikkei posting losses but the pair have been firmly anchored above 111.00.
Oil and gold have both dipped then rallied in tight ranges and that's also kept USDCAD and AUDUSD in tight-ish ranges with the former finding sellers into 1.2720 and buyers into 1.2660 and the latter trading between 0.7695-0.7725
US new home sales the data risk to come at 14.00 GMT but it's been a scrappy and largely lack-lustre Monday so far.
