Europe Summary and Highlights 30 January

European morning session

EUR/USD slipped lower through the European morning, reacting negatively to the weaker than expected Eurozone Q4 GDP data, which came in at 0.0% q/q against a market consensus of 0.1%. EUR/USD lost around 25 pips through the morning, finishing around 1.0395. Most other currencies were broadly steady against the USD, although the CHF and SEK were dragged lower with the EUR. While the GDP data were weaker, the European Commission survey showed a bounce in January back to November levels after a dip in December.

Elsewhere, UK money data were on the strong side of expectations, with consumer credit and mortgage lending and approvals both above expectations, even though M4 growth was slightly weaker than expected at 0.1% m/m.

Asia session

On Thursday, the tariff man has made no new headline and see the broader market calmer than earlier in the week. Major equity indexes are in the green while some Asian market are out to observe the lunar new year. AUD/USD is down 0.13% at 0.6224, NZD/USD is also down 0.17% to 0.5678 while USD/CAD is unchanged.

While China, Hong Kong and Singapore markets are observing their holiday, JPY is finding a bid in the Asia session. JGB are leading U.S. Treasury Yields in the opening and stayed strong. The broad risk sentiment remains calm after the turmoil earlier in the week. USD/JPY is down 0.36% to 154.63. Else, EUR/USD is down 0.02% and GBP/USD is down 0.04%.