Forexlive European FX News wrap: Easter arrives early as jury remains out
Forex trading news and economic data headlines 13 April 2017
- A ForexLive Easter holiday heads-up
- BOE survey shows lenders expect to tighten supply of unsecured consumer credit
- Fitch say Jaeger failure and weak UK data underline negative retail outlook
- Japan's Suga says he will not comment on FX levels
- OECD says BOJ monetary easing should stay in place until inflation stable above 2%
- Latest Reuters poll has 30 out of 38 analysts thinking BOJ's next move will be to tighten monetary policy
- Kremlin says the Putin-Tillerson meeting was "fairly constructive"
- Russia's Yudayeva says high oil price volatility remains a risk for rouble
- Latest Opinionway French election poll : Le Pen/Macron/Fillon 24/23/20 in 1st Round
- IEA cuts 2017 global oil demand growth by 40k bpd to 1.32mln bpd
- Option expiries for the 10 am NY cut today 13 April
- Nikkei 225 closes down -0.68% at 18,426.84
- China March FDI +6.7% yy in yuan terms vs 2.0% exp
- Germany March CPI final mm +0.2% as expected
- France March CPI final mm +0.6% as expected
- Italy March HICP final yy +1.4% vs +1.3% exp
- Switzerland March producer and import prices mm +0.1% as exp
After the USD losses in US and Asia it seems that European desks are not so sure this is such a one way ticket.
USDJPY found buyers int0 108.70 in Asia and a failure to give the pair another shove lower encouraged money to come off the table and we saw 109.24 before fresh sellers emerged and posted 108.95 again.
That in turn gave yen pairs a shove lower again capping core pairs after seeing some early USD supply.
GBPUSD has been down to 1.2536 from 1.2570 helped by EURGBP finding support at 0.8475 and BOE survey showing a few lenders tightening their supply of non-secured consumer credit. Fitch report on the weak retail sector not helping either.
EURUSD has similarly had its wings clipped back to 1.0634 from 1.0675 while USDCHF nudged its way back up through 1.0040 after holding 1.0000 in Asia. Can't rule out a bit of SNB help down there.
Gold has retreated and that's helped cap AUD but the ccy is proving resilient still while the general USD demand and oil price steady behaviour has seen USDCAD off its 1.3220 lows but unable to break through 1.3250.
Equities opened on the back foot and then made a few further losses .
US initial jobless claims, PPI and Michigan surveys to come on the data front along with Canadian mftg and housing reports.