Forex news and trading headlines 23 Jan 2016
News:
- Here's Theresa May's plan for the UK after Brexit
- Kremlin says there are no immediate plans for a Trump-Putin meeting
- Bundesbank: German inflation could rise to 2% in January
- ECB's Coeure says protectionism is "an economically bad idea"
- Iraq has already cut output by 180kbpd
- China crude oil import volumes on the rise in 2016
- There's two ECB heavy hitters on the soap box today
- Option expiries for the 10 am NY cut today 23 Jan
- Nikkei 225 closes down -1.29% at 18,891.03
Data:
- Q3 2016 Eurozone government debt to GDP ratio 90.1% vs 91.5% prior
- Switzerland December M3 money supply yy 3.0% vs 2.5% expected
A Monday typically light on data but today light on any real momentum or answers too.
US$ had fallen further in Asia from post-Trump levels on Friday and we saw that continue in early European trading with USDJPY falling to 113.17 from 113.60 and EURUSD post 1.0755 with GBPUSD also in demand to 1.2472 as EURGBP fell back a little through 0.8625 support.
The moves were short lived though and for most of the session we've seen a few US$ buyers dip their toes back in the water. USDJPY has nudged its way through 113.65 resistance to post 113.78 but pegged back by decent sell interest up there.
EURUSD has retreated to 1.0723 but once again found support down there while GBPUSD has chewed its way through bids to post 1.2425. AUDUSD posted 0.7579 in Asia but AUDJPY supply helped peg it back but the pair has held 0.7550 since.
Equities have fallen but recovered some poise, bond yields risen, and oil found itself in retreat for most of the session only to find dip buyers in the past hour or so and that's helped cap USDCAD at 1.3300.
Little by way of data to come so let's see if NA desks want to add anything to the mix.
