Forex news from the European morning session 27 April 2015
News:
- German govt confirms that Merkel and Tsipras had phone convo yesterday
- Greek government says they continue to support Varoufakis
- Fitch downgrades Japan to 'A' Outlook stable
- Italy's Padoan says the US economic growth is slowing
- Saudi Arabia's deputy oil minister says they will keep supplying as long there is demand
- UK election: Labour ruling out SNP tie up could rule out one worst case scenario for markets
- Spain's Rajoy expects to see GDP of 2.9% in 2015 and 2016
- SNB sight deposits w-e 24 April CHF 385.99bln vs 383.984bln prev
- Option expiries 10am NY cut today 27 April
Data:
- German import prices March mm +1.0% vs +0.4% exp
- UK CBI industrial trends total orders April 1 vs 4 exp
- Nikkei 225 closes down -0.18% at 19,983.32
A nervous start to the week that has seen the greenback finding some love again as Greece continues to give concern but the euro is hardly in a state of collapse
Pairs opened cautiously but then we saw EURUSD slip to 1.0860 from 1.0887 and GBPUSD to 1.5145 from 1.5185 before a quick reversal but not getting back to original levels and it was soon USD-demand time again and has been all morning since
EURUSD has been down to 1.0821 and GBPUSD to 1.5120 with EURGBP finding some demand in the early dip to 0.7149 and rallying back to opening levels of 0.7170 as I type
USDJPY climbed back above 119.00 after finding support around 118.80 and got a further boost to 119.42 from the Fitch downgrade but yen pairs have been mostly on the back foot and helped cap further USDJPY rises
USDCAD has been largely treading water between 1.2150-90 while AUDUSD had a knock back from 0.7832 to 0.7798 only to run into more buyers and NZDUSD similarly fell from 0.7638 only to find bids below 0.7600
USD demand on a bit of profit-taking or the start of renewed vigour for the greenback? The jury's still out
