Euro was seen trading higher during the London session as buyers were seen under control.
France Inflation ex-tobacco index released by INSEE came in at -1.1% in January 2015, whereas the last reading was a gain of 0.1%.
France Consumer Price Index was also released, which registered a decline of 1.1% in January 2015, compared to the preceding month’s rise of 0.1%.
Australian Foreign Exchange Transaction released by the Reserve Bank of Australia came in at 296M in January 2015 whereas the last reading was 1,081M.
Japanese Leading Economic Index released by the Cabinet Office registered a rise from the last reading of 103.7 to 105.6 in December 2014.
Switzerland Trade Balance released by the Federal Customs Administration registered a trade surplus of 3433M in January 2015, compared to the last revised reading of 1514M.
Euro Area Current Account released by European Central Bank registered a trade surplus of €17.8B in December 2014, compared to the last revised reading of €19.9B.
AUDUSD was one of the worst performers of this week, which traded towards 0.7760.
Switzerland Trade Balance
In Switzerland, the Trade Balance report was released by the Federal Customs Administration. The outcome was on the positive side, it registered a trade surplus of 3433M in January 2015, compared to the last reading of 1514M which was also revised. The exports also registered a rise to 16404M in January 2015, compared to the preceding month. Furthermore, the imports registered a reading of 12971M. The USDCHF pair was seen trading lower after the release towards the 0.9400 area, but later managed to recover the ground completely.
Japan Economic Releases
Earlier during the day, there were a couple of releases lined up in Japan, including the Leading Economic Index released by the Cabinet Office. The index managed to register a rise this time, as it came in at 105.6 in December 2014, up from the last reading of 103.7. Moreover, the Japanese Coincident Index was also released, which came in at 110.7 rising from the last reading of 109.2.
Moreover, the All Industry Activity Index was released by the Ministry of Economy, Trade and Industry. The outcome was on the lower side, as the All Industry Activity Index fell by 0.3% in December 2014, compared to the preceding month. The last reading was also revised down from 0.1% to 0%.
France Consumer Price Index
In the Euro area, the France Consumer Price Index was released by INSEE. The market was expecting it to register a decline of 1% in January 2015, compared to the preceding month. However, the outcome was on the lower side, as the France Consumer Price Index declined by 1.1%. This ignited a minor downside reaction in the EURUSD pair.
Technical Outlook – Japanese Yen
The Japanese yen was seen gaining ground earlier today, but later sellers came in and took it lower again. The USDJPY pair is trading around the 118.90 level with resistance around the 119.00 area and support at 118.50.
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UK Nationwide Housing Prices highlighting the value of the houses prices in UK and indicate current movements in the housing market posted an increase of 1% in April, compared to the preceding month.
US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound