Forex news from the European morning session 20 April 2015
News:
- ECB's Noyer says Grexit would mean trauma for the Eurozone
- EU's Moscovici says Greece has no time to lose
- EU's Junker looking lost over Greece talks
- Work has intensified in Greece negotiations
- BOJ may consider lowering inflation target this FY
- UK Election 2015: SNP spell out the price to make Miliband PM
- Bundesbank says consumption will hold for some time
- PBOC will recapitalise government banks using FX reserves - MNI
- Japanese government maintains economic assessment for April
- SNB sight deposits w/e 17 April CHF 383.98 bln
- Option expiries 10am NY cut today 20 April
Data:
- German PPI March +0.1% vs +0.2% exp
- February 2015 Eurozone construction output -1.8% vs +1.9% exp m/m
- Portugese PPI March mm -0.8% vs +0.9% prev
- Greek current account balance Feb yy EUR -0.929bln vs -0.729bln prev
- Nikkei 225 closes down -0.09% at 19,634.49
Yes folks, it's twistin' time again as USD buyers return and recent ranges tested once more
EURUSD opened up with a few buyers from 1.0770 to 1.0800 but failure there sent the pair falling to test 1.0730 support which has now been breached at the third attempt only to find buyers again
GBPUSD had an early dip to 1.4940 from 1.4970 as EURGBP rallied from 0.7225 resistance area from 0.7025. The pair then rallied to 1.4970 again as EURGBP retreated only to then fall to lows of 1.4911 in steady fashion
USDJPY had an early test of 118.50 support posting 118.53 but then it was rally time and now posted 119.10 while USDCHF had a similar wobble down to 0.9500 only to hold the line and has bounced back to test 0.9600
USDCAD similarly dipped to 1.2180 only to rally bavck to 1.2248 as I type while AUSDUSD ran out of puff again above 0.7825 and return to test support around 0.7780 before a small bounce only to then dip again to 0.7770. NZDUSD too failed to hold gains around 0.7720 and fell to 0.7685
No real rhyme or reason but these are fragile markets still.
