Forex trading news and economic data headlines 1 March 2017
The dollar was taking a breath from it"s Fed head induced gains overnight and some serenity was laying across a lot of the market.
USDJPY was sitting close to it"s highs around 113.60/65 and late in the session pushed up to the current high of 113.87. There may be some early US catching up to do from last night so the favoured direction is up as we head into the yank session.
EURUSD had been holding it"s lows around 1.0526 but couldn"t find the legs to push up meaningfully. 1.0545/50 marked the top and some late mild US strength means we"re back feeling out the lows once more. As usual, a half decent batch of reports from the European manufacturing sector couldn"t lift the euro at all and we"re still ignoring inflation, which rose in the German regions once again. The euro took the Fillion news that he was staying in the presidential race like a slap round the face and also aided this move lower.
GBPUSD take a late morning bath from 1.2360 and has just grabbed 3 pips under 1.2300 as I type. There"s some news about the government losing on a clause in the Brexit bill but the details suggest these moves are overkill. However, fading Brexit news is not something to take lightly when most of the market doesn"t understand the mechanics of this bill.
EURGBP is obviously on the flip side of this move and it"s broken above yesterday"s highs around 0.8550 by a few pips. GBPJPY is also suffering.
Elsewhere, the aussie isn"t making hay after it"s GDP numbers and is stuck around 0.7654. European stocks are shining brightly with decent gains.
Forexlive European FX wrap: European manufacturing gains and Fillon fights on
Forexlive European FX wrap: European manufacturing gains and Fillon fights on
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