Forex trading news and headlines 30 April 2015
- BOJ announcement: No change - on hold
- Japan construction orders March yy +10.8% vs +1.0% prev
- SNB reports a Q1 consolidated loss of CHF 30bln
- BOJ says core CPI expected +0.8% in FY2015/16 vs +1.0% prev forecast
- BOJ's Kuroda says Japanese economy continues moderate recovery
- Kuroda says BOJ did not discuss QQE exit at today's meeting
- Kuroda strongly expects Japanese govt to continue fiscal discipline
- UK Election 2015: Latest IPSOS/MORI poll has the Tories 5 points ahead
- French producer prices March mm +0.1% vs +0.8% prev
- Swiss KOF leading indicator April 89.5 vs 91.5 exp
- Spain Q1 GDP flash qq +0.9% vs +0.8% exp vs +0.7% prev
- German unemployment change April -8k vs -15k exp
- Italian unemployment rate March flash 13.0% vs 12.6% exp
- RBA will cut in May - Livesquawk
- April 2015 Eurozone HICP flash 0.0% vs 0.0% exp y/y
- April 2015 Italian HICP flash 0.0% vs 0.0% exp y/y
- Eurozone unemployment rate 11.3% vs 11.2% exp
- Window of favourable economic conditions for Italy may already be closing
- March 2015 Italian PPI 0.0% vs 0.5% prior m/m
- OPEC output rises 70kbpd in April
- Drop in GDP forces Russia to cut again
- Greek government will reiterate red lines today
There was more stock selling and euro buying as Europe opened up fully. Positive news about Spanish Q1 growth bucked the trend for Q1 numbers so far from other countries, and the sentiment is growing that Europe may finally be turning the corner on its recovery
EUR/USD took off once again through another big figure to a high of 1.1249. Since then we've slipped back to 1.1155 before snaking higher to 1.1195.
The euro jump was partly aided by a wobble in USD/JPY around the time of the BOJ announcement and subsequent comments from Kuroda. Any lingering thoughts that there would be any action from the BOJ were washed out as USD/JPY fell down to 118.50. We've picked up since back to 119.00 but seem to have an FOMC hangover and there looks to be no interest to move from the current tight ranges. Hopefully US data up soon will spark some life into the pair as we go Fed guessing once more
GBP/USD has found resistance at 1.5490 too strong once again and has fallen right back to 1.5400 as signs that the run is finally finding a worthy upside opponent. It's been a great run and with the UK election around the corner we may see the focus of pound traders switch from the US to Britain. We're last at 1.5420 after holding 1.5400
AUD/USD finally ran out of steam following the gains yesterday and a Sydney Morning Herald article that the RBA will cut next Tuesday was touted as one of the reasons for the selling pressure today. Our man downunder concurs that the article has merit but says it's still a very close call. As I type we've just held a test of 0.7900 by 4 pips and after a move back to 0.7925 are treading water around 0.7915
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