Forex news from the European morning session 30 July
News:
- Tsipras says he opted for compromise rather than default
Greece not aiming for elections at this stage
ECB monthly bulletin sees inflation rising towards year-end
Shell prepares for "prolonged downturn" in oil prices
NAB says terms of trade may restrain Australian growth
Option expiries 10am NY cut today 30 July
Data:
German unemployment change July +9k vs -5k exp
Saxony CPI July mm +0.2% vs -0.2% prev
Brandenburg CPI July mm +0.2% vs 0.0% prev
Baden- Wuerttemberg CPI mm +0.2% vs -0.2% prev
Eurozone economic confidence July 104 vs 103.2 exp
Spanish Q2 GDP preliminary qq +1.0% as exp
- Switzerland KOF leading indicator July 99.8 vs 90.4 exp
Nikkei 225 closes up +1.08%
A lack-lustre session as the post-FOMC fallout offers no real impetus but with the greenback still getting the benefit of the doubt.
EURUSD had a , now customary, early wander lower to post 1.0942 but has since recovered to test the res/offers at 1.0980 before settling back toward 1.0960
EURGBP followed it down to 0.7016 then also rallied to test 0.7030 res/offers before it too retreated once more to post 0.7011 lows as I type
EURJPY similarly dipped and rallied but USDJPY has picked up a bid on the US$ demand and has chewed its way higher to 124.38 keeping EURJPY fairly well supported. EURCHF demand also lending support to USDCHF to post 0.9716
GBPUSD has once again ground its way higher as EURGBP remains undermined and so far posted 1.5637 with more offers noted into 1.5650. Overall the pound is definitely finding favour too.
USDCAD has traded tightly unable to breach 1.2950-1.3000 while AUDUSD has succumbed to the greenback demand by dropping to 0.7272 from 0.7320 as too has NZDUSD which has seen a steady retreat to 0.6600 from 0.6640
US Q2 GDP will shake things up a bit but there's been pips to be had so fa
