Forex news from the European morning session 5 Feb
News:
- BOE's Broadbent says there's no great urgency to raise interest rates
- More from Broadbent: Forward guidance never is, or will be a promise on rate change timing
- Brexit: EU leaders "not happy" with UK reform proposals
- Latest Brexit poll has the No vote increase its lead
- China's SAFE says there is no basis for continued yuan devaluation
- Bank of Korea to prepare measures to stabilize markets if needed
- Italian manufacturing output to remain uncertain over coming months
- Further USD declines are limited say Morgan Stanley
- SNB forex reserves Jan CHF 575.4bln vs CHF 559.5bln prev
- Australian foreign reserves Jan +AUD 61.6bln vs +AUD 67.4bln prev
- Price levels to watch over Non-farm payrolls
- Here's the only US non-farm payrolls preview post you'll need today
- Option expiries 10am NY cut today 5 Feb
- Chinese equity markets close lower 5 Feb
- Nikkei 225 closes down -1.32% at 16,819.59
Data:
- Germany factory orders Dec mm -0.7% vs -0.5% exp
- France trade balance Dec EUR -3.94bln vs -EUR4.4bln exp
We've had another session with some Brexit-led GBP pressure but in the main it's been quiet as traders pull in the reins ahead of the US jobs and wages data at 13.30 GMT
Tight ranges have prevailed across other major pairs but GBP pairs came under some early pressure as latest news from the EU and referendum polls all helped give the pound some fresh supply.
GBPUSD wiped its feet at 1.4550 but then saw an accelerated fall to 1.4525 then lows of 1.4508 while EURGBP took full advantage of the softer equity-led euro demand to post 0.7714 from 0.7680.
EURUSD has been pinned down just below1.1200 as has USDJPY below 117.00. USDCHF has had a look lower at 0.9900 as the steam ran out of the EURCHF rally suggesting the SNB may have stepped back for the moment. Beware their return though.
After yesterday's sharp declines in USDCAD and other CAD pairs we had seen the rally peak at 1.3761 in Asia before dipping again into 1.3700 on firmer oil before then heading back up to 1.3755 as oil retreated.
AUDUSD and NZDUSD have seen limited action and it's all eyes now across the pond.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.