Forex news from the European morning session 24 Feburary 2015
News:
- Greek reforms list now revealed
- EU's Dijsselbloem says Greek reform list received yesterday evening
- Eurogroup conference call on Greece to start at 13.00 GMT
- EZ ministers could consider further debt relief for Greece - Dijsselbloem
- EU's Dijsselbloem says Greek programme has not failed
- Germany's Schaeuble asks lawmakers to back the Greek aid extension
- EU says list of Greek reforms is a valid starting point
- BOE's Carney says Eurozone crisis is a serious issue for UK
- Carney says BOE aiming to get CPI to 2% goal in 2 years
- BOE's Weale says policy decisions "finely balanced"
- BOE's Forbes says UK recovery still faces challenges
- BOE's Forbes says current rate continues to make sense today
- Most risks I worry about are external says Forbes
- Option expiries 10am NY cut 24 Feb
Data:
- Eurozone CPI Jan mm final -1.6% as exp
- German Q4 GDP sa final +0.7% vs +0.7% exp
- Nikkei 225 closes up +74 at 18,603.48
It's been a strange morning with the Greek reforms letter apparently arriving last night but the initial response has been encouraging enough to see the euro climb off its session lows
Most of the session saw EURUSD and other euro pairs in retreat amidst the early uncertainty with EURUSD falling to 1.1295 again from 1.1340 while EURGBP posted 0.7316 from 0.7342 and EURJPY 134.60 from 135.00. But in the past couple of hours we've seen some decent retracement back to 1.1330, 0.7335 with EURJPY extending its recovery up to 135.40
The pound saw some gains as BOE's Forbes appeared a little more hawkish but it's largely been pulled around by the euro with GBPUSD stuck in a 1.5430-65 range. Carney & Co's testimony had nothing new to offer and made little impact
USDJPY had an early demand on firmer Nikkei close but still shied away from 119.35 at first before getting a fresh burst of energy aided by EURJPY demand and we've seen 119.60 before dribbling back
Swiss pairs have had a quieter session while AUDUSD and NZDUSD remain on the back foot and USDCAD has drifted back lower during the session as oil prices firmed a little
All eyes now on Aunty Janet and the first part of her testimony at 15.00 GMT
