Forex news and economic headlines 23 March 2016
News:
- Doha oil producers meeting will be a dud says IEA
- Japan's Abe says he had expected more from Spring wage increases
- BOJ's Funo says next easing may not necessarily be rate cut
- Japanese government adjusts economic view in latest bulletin
- You can always go lower with rates says ECB's Lautenschlaeger
- Germany's "Wise Men" lower 2016 GDP forecast to +1.5% vs 1.6% prev
- Lloyds of London planning to open offices in EU in case of Brexit
- Cable and EURGBP joined at the hip again
- Option expiries 10 am NY cut today 23 March
- Italy hourly wages Feb mm +0.1% vs 0.0% prev
- Swiss ZEW expectation rises in March to 2.5 vs -5.9 prior
- US MBA mortgage applications -3.3% vs -3.3% prior
A relatively subdued session after yesterday's sad events but there was opportunity to be had nonetheless.
The pound had it's now customary early wobble with GBPUSD falling from 1.4200 to 1.4163 with EURGBP supported up to test 0.7900 before both pairs retreated only to have another look later with GBPUSD posting lows of 1.4155 ahead of strong support/demand between 1.4140-50. Since then we've seen a move back up to 1.4200 only to fail and dip to 1.4180.
The euro has mostly been underpinned apart from against the US$ where we saw a crawl down to 1.1181 and just recently versus the Swiss franc that has seen a surge to post USDCHF lows of 0.9726 and EURCHF 1.0887.
USDJPY has looked perky all session and mostly taken yen pairs up with it on its way to 112.77 after holding 112.20 again. USDCAD has been shadowing oil and had a run up to 1.3108 before oil firmed and we've since tested 1.3050 again.
AUDUSD had an early look below 0.7600 from 0.7630 only to return from whence it came but then ran out of puff and dipped into 0.7580 again.
US new home sales on on the data calendar at 14.00 GMT but BUBA boss Weidmann is due to speak shortly then Fed's Bullard.
