Forex news for US trading on Feb 29, 2016
- February 2016 US Chicago PMI data report 47.6 vs 53.0 exp
- Canada Q4 current account deficit $15.38B vs $15.55B expected
- ECB understands that there's an increase of downside risks says ECB's Visco
- Austrian man wins court case against SNB due to losses when floor abandoned
- February 2016 US Dallas Fed manufacturing index -31.8 vs -30.0 exp
- OPEC oil output fell in Feb - RTRS survey
- January 2016 US pending home sales -2.5% vs 0.5% exp m/m
- February 2016 US Milwaukee ISM 55.22 v s50.0 exp
- Gold up $17 to $1238
- WTI crude up 97-cents to $33.75
- S&P 500 down 16 points to 1932
- JPY leads, NZD lags
Leap day was a mix of flows and low liquidity moves due to month end. The main data point of the day was soft and that led to some minor US dollar selling. Late in the day stocks sagged and USD/JPY slid.
EUR/CHF was in focus as the euro skidded broadly. Stops below 1.0860 led to a quick 50 pip move lower but bids returned a few hours later in a choppy fashion. Last at 1.0855.
Gold and the yen finished strong months with gains while cable staged a small rebound to close out a dismal month. GBP/USD bids appeared into the London fix. That led to a 75 pip rally and test of offers at 1.3950 before it faded back 35 pips.
