Forex news from the European morning session 25 June 2015

News:

  • Here's the Greek bailout plan sent to the Eurogroup
  • Greek proposal has been tabled says Junker
  • Syriza parliamentary spokesman says lenders' proposals are "annihilating"
  • Greek central bank says they got the ELA funds they asked for
  • ELA ceiling has been left unchanged for Greece - BBG
  • Greece and creditors fail to reach an agreement ahead of eurogroup - BBG
  • Greek government is steadfast on its proposals - EU saus Greek docs can be a basis for a deal
  • There is no Greek take it or leave it proposal on the table - MNI
  • BUBA's Weidmann says he's concerned about continued ELA for Greek banks
  • ECB's Weidmann: Eurosystem can't provide Greece bridging financing
  • SSM chair Nouy says she doesn't expect "second-round effects" from the on-going Greek crisis
  • SNB's Jordan says Swiss franc still considerably overvalued
  • Japan's ex MOF Watanabe says US$ unlikely to strengthen much further if Fed raises rates once or twice
  • Fonterra June milk price set at $5.25
  • Option expiries 10am NY cut today 25 June

Data:

  • June 2015 UK CBI distributive trades sales 29 vs 35 exp
  • Germany GFK consumer sentiment July 10.1 vs 10.2 exp
  • Nikkei 225 closes down -0.46% at 20,771.40

It's been all about Greece again with the euro, and traders, not knowing where it's all going next

Will they reach an agreement ? Who knows and we've seen EURUSD dip to the 1.1150 support lines again on talk that the ECB didn't increase its ELA and back again to 1.1200 on talk that they have. Add to that various talking heads on all sides all of differing opinions about the current state of play

Euro pairs have seen similar moves with the US$ generally prevailing. USDCHF got a leg-up to 0.9370 from SNB comments on the too-strong franc and has since rallied further to 0.9417 with EURCHF chewing its way through 1.0500

USDJPY failed to breach 124.00 and has found sellers to 123.32 only to bounce back to 123.60 on renewed EURJPY demand while GBPUSD hung onto support around 1.5675 and has now posted new session highs of 1.5730 albeit tempered by another run of demand for EURGBP

USDCAD has been treading water, unable to breach 1.2400 while AUDUSD and NZDUSD have also been in consolidative mood but unable to make further progress beyond 0.7750 and 0.6925

US PCE data out shortly but yes, it's all eyes on Brussels again

Let's be careful out there