Forex news from the European morning session 29 April 2015
News:
- EU's Moscovici says talks with Greece at advanced stage but not going fast enough
- ECB said to have raised ELA ceiling for Greek banks by EUR 1.4bln
- EU's Juncker says he wants a "fair deal" for the UK in Europe
- Sweden's Riksbank leaves key rates on hold
- UK Election 2015: PM Cameron promises a law to cap tax rises if re-elected
- Germany's Kampeter says Eurozone economic conditions have improved
- Italian businesses are cheery in April while consumers are not
- Option expiries 10am NY cut today 29 April
Data:
- UK Nationwide house price index April mm +1.0% vs +0.2% exp
- Saxony CPI April mm -0.1% vs +0.5% prev
- Hesse CPI April mm 0.0% vs +0.4% prev
- German North Rhine CPI 0.3% vs 0.2% prior y/y
- German Baden Wuerttemberg CPI 0.3% vs 0.4% prior y/y
- April 2015 UK CBI distributive trades 12 vs 25 exp
- April 2015 Eurozone economic sentiment 103.7 vs 103.9 exp
- Spanish retail sales March sa YY +2.8% vs +2.7% prev
All eyes on the Fed later and we've seen the euro dominate as the US$ has a mixed session with pound and yen finding a few sellers
The session started off with USD on the backfoot and we saw EURUSD crack 1.1000 and GBPUSD 1.5400 but with USDJPY reluctant to stay below 118.80 and USDCAD refusing to get below 1.2000 still
We've since since USDJPY climb back to 119.36 as yen sellers prevail and EURJPY has continued its rally to 131.36 with the euro also in demand across the board. EURGBP has moved up steadily to post 0.7167 from 0.7140 which has helped cap cable, dropping back to 1.5342 just above a decent line in the sand at 1.5340, before bouncing back to 1.5365
AUDUSD has mostly been treading water but has dipped to 0.7978 after posting Asian highs of 0.8025 while NZDUSD retreated to 0.7670 from 0.7715
So we wait for the US GDP/Fed and traders are understandably taking some profits off the table in certain pairs. No clear USD picture being produced right now though.
