Forex news from the European morning session 14 August
- News:
Greek parliament approves bailout agreement
EU's Dijsselbloem says it's good news that Greek parliament has approved bailout deal
EU says the IMF shares its analysis of Greek debt sustainability
Tsipras says Greek bailout deal was a necessary choice
IMF role in Greek deal is central for Germany
ECB and EU Commission pledge to work with Greece on bailout deal
Sapin says Greek debt will need to be "re-profiled"
Greek govt faces a tougher vote to stay in power
France's Sapin says first-half growth is fastest in 3 years
Moodys says China's shift in policy on yuan is credit positive
Options expiries 10am NY cut today 14 August
Data:
Eurozone Q2 GDP provisional qq sa 0.3% vs +0.4% exp
Eurozone CPI July final yy % +0.2% as exp/prev
Germany Q2 GDP provisional qq sa +0.4% vs +0.5% exp
France Q2 GDP provisional qq 0.0% vs +0.2% exp
Italy Q2 GDP provisional qq wda +0.2% vs +0.3% exp
UK construction output June mm sa +0.9% vs 2.0% exp
French Q2 non-farm payrolls provisional +0.2% vs 0.05 prev
Nikkei 225 closes down -0.37% at 20,519.45
It's been a slow session but one with pips for those keen enough to look
The euro has found some support from the Greek parliament bailout vote with the Eurogroup decision still to come
EURUSD had an early rally to 1.1173 only to fade back into demand/support around 1.1125 on softer GDP data but we've now seen a steady climb to 1.1185 dragging EURGBP to 0.7159 after spending most of the morning around 0.7140
Cable had a test of the 1.5585 support/bids at 1.5585 but was soon settling back above 1.5600 and now progressed to 1.5638 although finding fresh offers on the EURGBP demand
USDJPY is now testing 124.00 again after ranging between 124.30-50 for the most part in what has become a general USD sell with USDCHF slipping to 0.9727 from 0.9775
AUDUSD found itself in retreat early on defence of a large option expiry at 0.7400 but ran into good demand around 0.7360 and is back to 0.7388 while NZDUSD has made steady progress to 0.6558 from 0.6530
USDCAD has found itself jammed between 1.3050-80 with oil similarly quiet
US PPI and industrial production out later with Michigan sentiment surveys following
