Forex news from the European morning session 18 February 2015
News:
- Greek govt confirms they will submit a loan extension request today
- Germany's Jaeger says any programme extension needs Greek pledge to complete it
- France's Sapin expects a Greece deal this week - Livesquawk
- Greek overdue taxes up to €76bn says alternative finance minister
- BOE MPC vote 9-0 to keep rates and QE on hold
- More from Kuroda: No need to consider further action at this point
- Kuroda: BOJ sees no big problems now in bond market liquidity
- FX rates not just set by one country's monetary policy says Kuroda
- BOJ's Kuroda says Japan's industrial production is recovering
- Gold flirting with 1200
- Option expiries 10am NY cut 18 Feb
- January 2015 UK labour market report claimant count -38.6k vs -25.0k exp
- December 2014 eurozone construction output -0.8% vs -0.1% prior m/m
- US MBA mortgage market index falls 13.2% to 435.6 w/e 13 Feb
- Swiss ZEW survey expectations Feb -73.0 vs -10.8 prev
- Japanese machine tool orders Jan yy final 20.4% as prev flash
- Nikkei closes up +1.18% at 18,199.17
Plenty going on again this morning but the pound is taking line honours after decent data and MPC Minutes while the euro is suffering another moment of foreboding as reality kicks in again
GBPUSD started the day popping below 1.5350 as EURGBP marched up beyond 0.7430 but both pairs were in retrace mode at 1.5395 and 0.7420 as the UK data/MPC hit the screens and we saw an immediate move which ended in cable highs of 1.5441 again and EURGBP down testing 0.7370 support which eventually popped to post 0.7363 so far. Other pound pairs have seen similar swings
EURUSD also started off on the back foot before finding some support on hopes of a Greek deal and we saw 1.1417 posted before a combo of reality check rhetoric, USD demand and EURGBP selling gave it a kick down far to 1.1360
USDCHF and USDJPY have enjoyed decent demand all session posting highs of 0.9407 and 119.42 while USDCAD also seen a move higher to 1.2440
AUDUSD and NZDUSD have both suffered at the hands of the greedy Greenback and given up gains to 0.7832 and 0.7548 to drift off to 0.7800 and 0.7509 as I type
Expect more fragilty as the day continues
