Forex news and trading headlines 13 Jan 2016
News:
- BOE's Saunders: Recent UK growth stronger than expected
- BOE sees significant reduction in investment
- Germany to hold first Brexit committee meeting next week
- Pound enjoying another good two-way session
- Here's a review of my EURUSD longs
- China's SAFE says they will strengthen compliance on FX business
- PBOC issues a total of yuan 305.5bln via MLF at unchanged rates
- Nikkei 225 closes up +0.8% at 19,287.28
Data:
- Spain final December CPI mm +0.6% as expected
- Germany December wholesale price index mm 1.2% vs 0.1% prev
Not a lot in terms of data or rhetoric but that's not stopped us from seeing some decent moves as the week draws to a close.
USDJPY led the way first off with a fall from 115.07 to 114.53 before bouncing to 114.87 only to run into fresh sellers.
It's been the pound that's grabbed the spotlight though with a test of 1.2150 for cable only to run into decent demand and it was short covering time back to 1.2234 with EURGBP testing 0.8700 after failing to get across 0.8750. That move also ran out of steam though and we've been back to 1.2174 and 0.8744.
EURUSD has generally been underpinned but with main impact coming through EURGBP and EURJPY plays again while USDCHF has drifted lower but tempered by EURCHF demand once more.
Commodities have been largely on the retreat with WTI falling to $52.45 from $53.12 and that's put a base under USDCAD into 1.3120 but unable to get back through 1.3150 so far.
European equities opened firmer and have made some further gains but trading off highs as I type.
Coming up : GMT
13.30 US retail sales
14.30 Fed's Harker
15.00 US Michigan Sentiment
18.00 Baker Hughes rig count
20.30 CFTC spec net positions
