Forex news and economic trading headlines 29 August 2016
News:
EU Commission says it's ready to finalize TTIP by year end
Relax everyone, Yellen not up to the rostrum today after all
Germany's BGA expect Brexit to impact exports "massively" in the near future
Option expiries 10 am NY cut today 29 August
- Nikkei 225 closes up +2.30% at 16,737.49
Data:
- Italy consumer confidence index Aug 109.2 vs 110.3 exp
- Greece Q2 GDP final QQ +0.2% vs +0.3% exp
UK holiday today and it appears that European traders have taken the opportunity to have a breather too.
Yen-demand the main feature as USDJPY runs into resistance at 102.50 and traders take some short-JPY positions off the table after a decent run higher post-Jackson Hole.
USDPY has fallen back to 102.10 from 102.39 as EURJPY drops back to 114.18 from 114.65 taking EURUSD down to 1.1171 from 1.1205. GBPUSD has fallen to post Jackson-Hole lows of 1.3070 from 1.3105 as GBPJPY posts 133.56 from 134.30.
European equity markets have been on the back foot from the off while oil has been tightly bound which has bee reflected in USDCAD lack of range.
AUDUSD and NZDUSD have also been well contained and capped by yen demand.
A steady start to the week then but still with opportunity for a few pips. Let's see if NA want to crank it all up a bit.
