Forex news and trading headlines 12 Jan 2016
News:
- Kremlin hopes there will be a better level of respect between US and Russia under Trump
- Barkindo says OPEC oil producers to decide in May if more output cuts needed
- OPEC's Barkindo says monitoring committee to hold first meeting on 22 Jan
- Kuwait says current price is encouraging oil investment to return
- Pace of oil market rebalancing will be accelerated by OPEC/non-OPEC deal - Saudi energy min
- Kuwait will cut oil exports to the US and Europe
- Iraqi oil minister says they want oil prices at USD 65 per barrel
- PBOC should stop intervention in the yuan and hang onto their reserves
- Greece says stalled bailout deal needs "political solution"
- Moody's see Eurozone political risks rising
- Nikkei 225 closed down -1.2% at 19,134.70
Data:
- German preliminary 2016 GDP yy +1.9% vs +1.8% exp
- China December M2 money supply yy +11.3% vs +11.5% exp
- France December CPI final mm 0.3% as expected
- Italy November industrial production yy NSA +3.2% vs -1.8% prev
USD sellers were out in force again early in the session but it didn't take long for buyers to step back in.
Early moves saw USDJPY fall to 113.75, GBPUSD up to 1.2317, EURUSD to 1.0679 and AUDUSD to 0.7509. USDCAD fell to 1.3028 and USDCHF has posted 1.0060 lows.
Then came the USD buyers to have another say and we saw 114.41, 1.2250, 1.0630 and 0.7486 before once again turning around as I type with NA desks stirring.
Oil has been in the news been in steady ascent on the generally price-bullish rhetoric while equities opened on the back foot and been soggy since
Not a lot of data to come but a few Fed talking heads to throw their 2 cents into this heady mix.
