European Summary and Highlights 17 May
The USD was generally firmer through the European morning, with EUR/USD losing around 15 pips to 1.0845, USD/CAD rising 15 pips to 1.3640 and AUD/USD slipping 10 pips to 0.6655.
European morning session
The USD was generally firmer through the European morning, with EUR/USD losing around 15 pips to 1.0845, USD/CAD rising 15 pips to 1.3640 and AUD/USD slipping 10 pips to 0.6655. USD/JPY made initial gains but finished the session only marginally firmer at 155.80, and GBP/USD was also only marginally softer at 1.2655.
The session was essentially newsless, with just the confirmation of the Eurozone April CPI at 0.6% m/m in April on the data front.
Asia session
The latest BoJ JGB purchase operation sees no change to the amount purchased which seems to suggest the BoJ is not pushing forward less easing. Ueda also says he has no immediate plan to sell the Bank's ETF holdings, all does not point to a hawkish tilt. JGB yields are outperforming the U.S. Treasury counterpart. USD/JPY is trading 0.26% higher at 155.77.
Chinese April economic data come in mixed with industrial output positive but domestic demand remains soft. Regional sentiment is mixed with Chinese equities under performing. With USD solid and soft Chinese equities, AUD/USD is trading 0.22% lower at 0.6663, NZD/USD is 0.08% lower at 0.6117 while USD/CAD up 0.03%. Else, EUR/USD is down 0.08% and GBP/USD is down 0.09%.