Forex news and economic trading data for the Americas session 9 June 2016
Here's what happened during the European morning: European FX News wrap: A strong yearning for yen
Italy's Padoan knocks Donald Trump
Goldman Sachs raises US second-quarter GDP view to 3.2%
US auctions off 29 year 11month bond at 2.475%
What US households lost on stocks, they made up in house prices in Q1
A soggy day for European stocks
BOC's Poloz: Economy is working through the oil price shock
Brexit vote is a significant factor in FOMC decision this month
The joke of the day comes Germany's Spahn: Euro region must stick to its deficit goals
BOC: Lenders should not extrapolate home price gains
EIA Natural Gas Storage change 65 vs 76 estimate
April 2016 US wholesale inventories 0.6% vs 0.1% exp m/m
Which way is EURUSD going?
April 2016 Canadian new house price index 0.3% vs 0.2% exp m/m
US initial jobless claims 264k vs 270k exp
Citi have Brexit all mapped out in the pound and euro
Yen buying dominated during the European session and the love turned to hate during the US day. Crosses led the majors but in the rebound, they left their cousins a the station. GBPJPY is back to were it first started falling from at 155.00. EURJPY still has a bit of work to do at 60 pips shy of the drop point around 121.75. It is up just under 100 pips from the 120.33 low.
USDJPY is on the case too steaming back from the 106.26 low to break the European high and now close to breaking the Asian highs over 107. US stocks probably have a lot to answer for as they bounce back from a soggy open. Soros the bear was carried around the wires leaving it's mark but it looks like that news is now chip paper.
EURUSD didn't get the memo that the cross selling was over and continued to nick new lows. 1.1350 support gave out then some small stops were hit when 1.1330 broke. We got 6 pips close to 1.1300 but didn't have the gumption to really have a go. The bounce hasn't exactly been heroic, to 1.1339 at best. Support has solidified at 1.1310. "1.1375 or 1.1275 first?" was the question I put to the readership. I'm in for 1.1275 and see nothing to change my mind at the moment.
The pound has fallen asleep in a slow 40 pip range between 1.4450 and 1.4490. The Aussie hasn't faired much better. NZDUSD was the star overnight and it's managed to hold 0.7100 which could be key for another leg up.
