Forex news and economic trading headlines 15 August 2016
News:
- UK is fully throwing the kitchen sink at Brexit process
- Bundesbank says Brexit to have "limited" impact on Germany
- Pound still under pressure as a new week gets underway
- PBOC says they will maintain prudent monetary policy with some flexibility
- Japanese finance ministry negotiating with major banks to borrow at zero rates
- What is your trading style?
- Option expiries 10 am NY cut today 15 August
- Chinese equity markets post solid gains 15 Aug
- Nikkei 225 closes down -0.3% at 16,869.56
Data:
- Japan industrial production June mm final +2.3% vs 1.9% prev
- Switzerland PPI July mm -0.1% vs -0.2% exp
The fish have barely been jumpin' but there's been some sport to be had for those keen enough to throw some bait out there.
Not a whole heap to report and I'm not one to make a silk purse out of a sow's ear but that said there's been a little bit of action with the GBP and JPY once again the headline performers.
GBP pairs had a small test of Asian highs early doors with GBPUSD nudging back above 1.2940 but capped by decent supply into 1.2950 while EURUSD once again found dip demand below 0.8630 .
Cue the now customary GBP retreat to post 1.2906 and 0.8655 before running into fresh demand. GBPJPY activity added to the action both lower and higher with selling down to 130.26 sending core pairs to session lows with USDJPY finally giving up 101.00 support to post 100.87 in a rush.
The sell-off was soon in reverse though and we've been back to 1.2925 and 101.08 with GBPJPY nudging 130.60 but still looking vulnerable.
Yen demand prevailing generally in a risk-off sentiment session largely with markets also becoming more of the opinion that the BOJ has little room to ease further. CHF demand would confirm the safe-haven bias as markets continue to second guess the Fed.
USDCAD has been on the back foot all session as oil prices firm again and we've dropped from 1.2970 to 1.2915 so far while AUDUSD has dribbled its way down to 0.7663 from 0.7680
No data of note so far and only US NY Empire State mftg index to come at 12.30 GMT
