Forex news from the European morning session 29 July
News:
- Tsipras says a snap election would be needed if he doesn't have required parliamentary majority
- Tsipras says Greek debt relief will take place in November
- EU says "intense work" is progressing in Athens
- ECB keeps ELA unchanged for Greek banks
- More from Tsipras: Has no regrets for what has happened in last 5 months
- BOE's Cunliffe says financial markets are "quite fragile at the moment"
- Option expiries 10am NY cut today 29 July
Data:
- German GFK consumer confidence August 10.1 vs 10.1 exp
- UK mortgage approvals June 66,582 vs 66k exp
- French consumer confidence July 93 vs 94 exp
- MBA mortgage applications w-e 24 July +0.8% vs +0.1% prev
- UK CBI reported sales index July 21 vs 29 exp
- Swiss UBS consumption indicator June 1.68 vs 1.62 prev
- Nikkei 225 closes down -0.13% at 20,302.91
It's definitely been a session awaitng the FOMC but there's been opportunity to be had nonetheless
The euro had another early wobble with EURUSD down testing 1.1030 again from 1.1075 as general USD demand prevailed
But as the move ran out of puff we saw the pair climb back to 1.1070 only to fall back to 1.1045 as I type dragging EURGBP through 0.7070 to 0.7058
GBPUSD dipped to 1.5590 in the early move but has needed little encouragement to test the upside since and posted 1.5649 just ahead of some decent res/offers at 1.5650, helped by the EURGBP supply
USDJPY once again found demand into 123.40 and offers into 123.80 while USDCHF was happy to shadow EURUSD but also with an offered tone as EURCHF drifted lower to 1.0623
USDCAD seems to have given up on further gains above 1.3030 and has spent the session in a 1.2920-60 range while AUDUSD has returned to test 0.7300 after failing above 0.7340. NZDUSD has seen a similar descent from 0.6710 to 0.6673
So a few pips to be had for the intra day traders but it's all eyes on the FOMC later
