European wrap-up
I'm wrapping things up here and handing over to Adam who will lead you through the tier one Canadian and US data to come.
If you're just waking up and logging into your charts, take a look at today's ForexLive European session discussion below:
- European session chart update
- Now it's President Xi's turn
- China's Politburo on the wires
- Eurozone inflation seen as intact - ECB could wind back policy faster than priced
- Oil finding the $70 level hard to crack
- European CPI Flash Estimate y/y: 2.1% v 2.0% expected and 2.0% previous
- DXY at support, EUR/USD at resistance
- Mini Eurozone data dump at top of the hour
- German Unemployment Change: -6K v -10K expected and -15K previous
- Tuesday's European session forex market themes
- Kuroda: Strengthened commitment to price target with forward guidance
- JPY traders - Kuroda press conference coming up
- State of EUR/USD pre-Eurozone data later
- Upcoming data throughout the European session
- Japan Housing Starts y/y: -7.1% v -2.5% expected and 1.3% previous
- European Tuesday trade ideas and discussion thread
- USD/JPY rallies as BoJ keeps policy rate and 10 year target
- Thanks Kuroda, let's get into the ForexLive European session
We saw some overlap between Asia and Europe thanks to a very late BoJ meeting and subsequent press conference that felt like it went forever with all the translations going on.
European data saw the Euro start to consider repricing some of its ECB inspired losses as it wasn't the gloomy readings expected. Euro optimism seemed to appear throughout the session.
The narrative was obviously therefore focused on USD/JPY and EUR/USD, but tomorrow focus will shift to GBP/USD in the lead up to the BoE decision Thursday.
Best of probabilities to you!
