Forex trading headlines from the European morning session 27 February
- Yanukovich is in Russia seeking protection
- Ukraine’s Turchinov says Russian troop movement in Black Sea area will be seen as act of aggression
- German unemployment change Jan -14k vs -10k exp
- German import prices Jan m/m -0.1% vs -0.2% exp
- Spanish final Q4 GDP +0.2% vs +0.3% exp
- Swiss real Q4 GDP q/q +0.2% vs +0.4% exp
- Eurozone M3 money supply growth Jan +1.3% vs +1.2% exp
- German regionals show softer CPI readings
- Irish Q4 unemployment rate 12.1% vs 12,7% prev
- Spanish Q4 house prices -1.8% vs -0.4% prev
- French consumer confidence 85 vs 86 exp
- German ILO employment Jan +44k vs +27k prev
- Eurozone economic sentiment Feb 101.2 vs 100.9
- Greek banks are covered by EUR 8bln bail out fund
- Italian business confidence Feb 99.1 vs 98.0 exp
- BOJ’s Sato says QE doesn’t automatically end in 2 years
- BOE’s Dale says interest rate rises likely to be gradual
- Nikkei closes down 0.32% at 14,923.11
- Shanghai comp index close up 0.3% at 2047.35
Currently it’s only a war of words but fears are escalating that worse is yet to come and the euro has once again come under pressure during the session.
EURUSD held 1.3650 for a while before softer data and safe-haven combo sent to 1.3644 only to bounce back to 1.3660. EURGBP has been down to test strong support at 0.8200 and failed to break so far but EURJPY has fallen from 140.00 to 138.80 support as the yen played catch up with USDJPY dropping from 102.20 to 101.85 in minutes mid-morning.
The pound has had a decent morning overall with support in the dips still despite GBPJPY tumbling to 169.06. GBPUSD had a quick dip to 1.6615 ahead of strong bids at 1.6600 again but then got hoovered back to 1.6640 in a rush.
EURCHF has fallen from 1.2185 support to test the next big one at 1.2150 taking out good bids at 1.2165 along the way which has kept a cap on USDCHF rallies again as we saw yesterday too.
AUDUSD came down to look at the 0.8900 bids but shyed away at 0.8905 and rallied above 0.8930 while the kiwi marches on and finding support in the dips, high post so far 0.8365, but the loonie’s had the morning off.
All very jittery out there which makes for good oppportunity still. Hurrah!