Littlefish FX Analysts
Littlefish FX
KEY DATA RELEASES TODAY (BST):
09:00 EUR ECB President Draghi Speaks
09:00 EUR German Ifo Business Climate 108.3 v 108.6
09:30 GBP Public Sector Net Borrowing 7.8B v 6.7B
10:45 GBP MPC Member Shafik Speaks
12:00 GBP BOE Gov Carney Speaks
13:30 USD CPI m/m 0.1% v 0.2%
13:30 USD Core CPI m/m 0.2% v 0.2%
14:30 EUR ECB President Draghi Speaks
18:00 USD Fed Chair Yellen Speaks
OVERNIGHT:
EURUSD squeezed to 1.1181 high from 1.1079 low when London traders came to their desks, but the pair eased to 1.1112 as Greek concerns weighed although reports are suggesting the sides are closer to reaching a deal suggesting a deal should be in place within the next ten days. Eurozone Composite PMI in May was lower to 53.4, worse than the expected 53.9; whereas job creation hit a 4 -year-high, signalling the optimism of corporates towards the economy
GBPUSD was the outperforming currency pair yesterday; GBPUSD surged over 150 pips and hit 1.5699 high on better-than-expected UK retail sales in April. UK retail sales in April rose 1.2 percent MoM against 0.4% expected, the strongest increase since November which has led to a solid bid in UK Gilt yields which supports the cable bounce.
USDJPY traded steadily ahead of the central bank monetary policy decision today. Markets expected that BoJ would keep its asset-purchase plan unchanged as they have done. Trades expect some pre weekend paring of positions and some profit taking in the USDJPY run up. All eyes turn to FED Char Yellen who is due to speak after European markets close today so there is the potential for some added volatility into the close tonight.
All comments, charts and analysis on this website are purely provided to demonstrate our own personal thoughts and views of the market and should in no way be treated as recommendations or advice. Please do not trade based solely on any information provided within this site, always do your own analysis.
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