Forexlive European FX news wrap: A mixed bag but pound and euro remain under pressure

Author: Mike Paterson | Category: News

Forex trading news and economic data headlines 15 February 2017



Markets are still trying to second-guess Yellen & Co and the greenback is generally better supported but USDJPY is still finding sellers as yen demand returns.

USDJPY had an early move up from 114.35 to finally take out the 114.50 sell interest but from 114.61 highs we've been nudging lower since with GBPJPY and EURJPY selling adding weight to core pairs.

UK jobs data came in stronger with new measuring criteria but a softer wages report was enough to get the algos active, and after a drop through 1.2450 we've seen lows of 1.2415. EURGBP has had a look at 0.8500 again

EURUSD has seen continuing sell interest with cross pairs also mostly on the retreat as the soggy scenario plays out.

Gold and oil have both remained steady after yesterday's retreats as too have the CAD and AUD and once again we've seen AUDUSD continue to fail into 0.7700 and USDCAD also tight between 1.3065-85.

Equities opened stronger  and we've plenty of data to come yet not to mention the second part of HH testimony from Yellen at 15.00 GMT

Lots of movement and opportunity to come again for sure.