Forex news and economic trading headlines 26 August 2016
News:
- Is the market hedging for a dovish Yellen?
- Jackson Hole: Yellen to keep her options open say Deutsche Bank
- UK GDP data shows the British stiff upper lip index was up ahead of Brexit
- Second UK Q2 GDP reading leaves traders nonplussed
- Cable tests 1.3200 support as EURGBP heads higher again
- It will be hard for France to exceed 1.5% GDP in 2017 says Macron
- OPEC's Barkindo says market forces alone are not sufficient to correct prices
- Japan's GPIF gets hit by slump in stocks to post a 3.9% loss for Q2
- Forex option expiries for the 10am (14.00GMT) New York cut 26 August 2016
Data:
- Q2 2016 UK GDP revision 0.6% vs 0.6% exp q/q
- Q2 2016 French GDP 0.0% vs 0.0% exp q/q
- July 2016 Japan national (core) CPI 0.5% vs 0.7% exp y/y
- July 2016 Eurozone M3 money supply 4.8% vs 5.0% exp y/y
- July 2016 Spain retail sales 4.9% vs 4.3% exp y/y SA
- September 2016 German GFK consumer sentiment 10.2 vs 9.9 exp
It's been an understandably scrappy session with all eyes on Yellen at Jackson Hole following the US Q2 GDP reading.
While USDJPY has been stuck around 100.50 we've seen a little movement in GBPUSD with post-data gains to 1.3230 reversed down to 1.3182 as EURGBP tested the 0.8565 offers/res again.
EURUSD had an early look above 1.1300 but soon found itself back at session lows of 1.1283 with traders just testing both sides to find the weak spot, if any.
USDCHF has caught a bid again below 0.9650 with EURCHF also finding dip-demand below 1.0900.
Oil prices had been in retreat early doors but then found a bit of dip-demand and that's contained USDCAD while AUDUSD and NZDUSD have also been treading water.
So it's US Q2 GDP at 12.30 GMT and Yellen at 14.00 GMT. Not long to wait now.
