Europe Summary and Highlights 13 January
The USD was slightly stronger against the EUR and GBP through the European morning, but little changed elsewhere.
European morning session
The USD was slightly stronger against the EUR and GBP through the European morning, but little changed elsewhere. EUR/USD dipped to a low of 1.1078 shortly after 09:00 GMT, another new 2 year low, although there was no clear trigger. GBP/USD matched the EUR dip, but both currencies bounced slightly and EUR/USD finished the morning only around 20 pips lower near 1.02.
Most other currencies were net little changed against the USD. EUR/CHF dropped 20 pips on the morning, falling from 0.9370 to 0.9350 after the release of the latest SNB sight deposits data, which showed a CHF6bn rise in sight deposits in the latest week, following a similar sized decline in the previous week.
Asia session
The JPY is gaining on a Japanese holiday as haven bids seems to have picked up on sour global sentiment as market participants in Asia digest the stronger than expected U.S. NFP. While regional sentiment is worse than U.S. major, Chinese equities are trying to close the opening losses but have backed away in Asia noon. USD/JPY is down 0.13% at 157.49.
The Australian Melbourne Institute Inflation data has came in higher at 0.6% m/m and 2.6% y/y. It previews a potential higher December official CPI and seems to reversing the early easing expectation from the lower November CPI. But as session progress, AUD/USD has reversed earlier gains to trade 0.1% lower at 0.6140, NZD/USD is unchanged at 0.5555 while USD/CAD rose 0.14% on broad USD strength. Else, EUR/USD down 0.23% AND GBP/USD is down 0.5%.