Forex news and trading headlines 14 December 2016
News:
Germany's Schaeuble says Greek bailout will only work if all parties stick to the agreement
UK FCA looking at raising financial compensation to £1m
PBOC sells net CNY 382.7 bln in November
Gazprom CEO says Russia's oil companies will decide among themselves on output cuts
Bank of Spain sees 2017 GDP growth at 2.5% and 2.1% in 2018
Germany's DIW sees GDP at 1.2% in 2017
Moody's say high leverage and global financial linkages are sources of vulnerability for some Asia-Pacific sovereigns
Option expiries for the 10 am NY cut today 14 Dec
Nikkei 225 closes up +0.02% at 19,253.61
Data:
November 2016 UK claimant count 2.4k vs 5.5k exp
October 2016 Eurozone industrial production -0.1% vs 0.2% exp m/m
No surprises in the final November inflation readings for France
China Nov M2 money supply yy +11.4% vs +11.5% exp
Italy November HICP final yy +0.1% as expected
- Switzerland December Credit Suisse ZEW survey expectations 12.9 vs 8.9 prev
- Spain Oct house transactions yy +6.5% vs +13.2% prev
A steady session again as to be expected with all eyes on a bigger prize later but there was still good range-trading action to be had for those interested in getting involved.
In a similar pattern to yesterday EURUSD tried to climb higher but failed above 1.0660 once more and came back to 1.0617 in a move that also saw EUGBP retreat from 0.8417 to 0.8374.
That move sent GBPUSD up to 1.2684 only to fall back as EURUSD found bids again sending EURGBP back above 0.8400. UK jobs and wages data had little impact with weaker jobs compensating stronger wages.
Since then GBPUSD has been down to 1.2636 and back to 1.2670 as I type with EURGBP once again falling back from 0.8420 to 0.8398 sending EURUSD back up to 1.0653
USDJPY continues to range trade with demand below 114.90 and supply above 115.30
Equities and oil have both drifted lower but CAD and AUD remain wanted in the dips.
All eyes on the Fed then but we have US retail sales, PPI, and industrial production as the data risk events prior.
