Forex news from the European morning session 28 April 2015
News:
- Noyer says ECB aid for Greece can not continue indefinitely
- ECB's Coeure says no need to worry about the eurozone recovering in 2015/16
- Japan's Nishimura would not be surprised if achieving CPI 2% target is delayed into 2016
- Option expiries 10am NY cut today 28 April
Data
- Q1 2015 UK GDP flash 0.3% vs 0.5% exp q/q
- French consumer confidence April 94 as exp
- Japan small business confidence April 47.4 vs 49.0 exp
- Nikkei closes up +0.38% at 20,058.95
It's been another lively morning that's seen the pound take a dip only to come bouncing back as the US$ ran into sellers across the board bar CHF which was on a sell mission of its own
Early action saw some USD demand with GBPUSD dipping 30 pips to 1.5220 and EURUSD down the same to 1.0858 but we were soon back on a move to where we came in, before dribbling lower again, with USDJPY trying to forge its way higher at 119.20
Then came softer UK GDP and GBPUSD fell from 1.5220 to decent support around 1.5175 only to catch the next wave of $ selling and rebound through previous highs to post 1.5290 so far.EURGBP rallied on the data to 0.7170 after posting 0.7132 early on but was soon heading back down to 0.7150 again.
EURUSD took off, barely wiping it feet at 1.0900 this time, and we've been to 1.0945 with USDJPY falling to good support at 118.85 and giving EURJPY a lift up through 130.00 again finally after capping at 129.80 for a while lately
AUDUSD and NZDUSD needed no excuse to jump on the bandwagon and taken out offers/res at 0.7900 and 0.7670 along the way while USDCAD has made a steady drop to 1.2058 but bids down there holding so far
The one to buck the trend has been CHF which has been sold off across the board pushing USDCHF up to test 0.9600 from 0.9540 and EURCHF marching on to 1.0476 so far. SNB in the frame along with possible exit from depo accounts ahead of the 1 May deadline for latest exemptions, but nothing confirmed as yet
It's all heading to be another volatile day. Caution is advised
