Forexlive European FX news wrap: Pound gives up some gains as USD demand prevails

Forex trading news and economic data headlines 3 April 2017

News:

• Gibraltar"s Picardo says "we want to stay British"


•  Picardo calls on EU leaders to remove reference to Gibraltar from draft Brexit guidelines


• The EU draft Brexit guidelines have the full backing of the European Commission


• Cable pops under 1.2500 as GBPJPY leads the way again


• ECB"s Praet says current monetary policy stance remains appropriate


• I hope Eurozone governments realise that rates will not stay low says Coeure


• ECB"s Coeure says "over time we would expect that our new cash collateral facility will help reduce tensions"


• SNB total sight deposits w-e 31 March CHF 561.71bln vs 560.08bln prev


• Spanish GDP to grow 2.8% in 2017 say Bank of Spain


• Option expiries for the 10 am NY cut today 3 April
  


• More option expiries of note this week 4-7 April


• Nikkei 225 closes up +0.39% at 18,983.23

Data:

• March 2017 UK Markit/CIPS manufacturing PMI 54.2 vs 54.6 exp


• Eurozone February PPI mm 0.0% vs +0.1% exp


• Eurozone February unemployment rate 9.5% as exp


• Eurozone Markit March manufacturing PMI final 56.2 vs 56.2 exp


• March 2016 German Markit manufacturing PMI final 58.3 vs 58.3 exp


• France Markit March manufacturing PMI final 53.3 vs 53.4 exp


• Italy Markit/ADACI March manufacturing PMI 55.7 vs 55.0 prev
  


• February 2017 Italian unemployment rate 11.5% vs 11.9% exp


• Spain Markit manufacturing PMI March 53.9 vs 54.8 prev
  


• Switzerland Markit manufacturing PMI March 58.6 vs 57.8 prev


•  Switzerland February retail sales yy +0.6% vs -1.2% prev


• Australia March commodity index SDR terms yy 50.1% vs 59.1% prev


• India Nikkei/Markit March manufacturing PMI 52.5 vs 50.7 prev

It"s been a data busy session to start off the new week and month but ranges have been limited.

USD demand though has prevailed mostly with euro getting a bit of support from strong PMIs but the pound getting the wrong end of the data stick to spend most of the session on the back foot.

More summary to follow.

Forexlive European FX news wrap: Pound gives up some gains as USD demand prevails
Forexlive European FX news wrap: Pound gives up some gains as USD demand prevails
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