If on Thursday night the euro had surprisingly recovered against the dollar, bought in the Asian session, during the first hours of Friday pessimism on the outcome of the Greek crisis prevailed: the Eur/Usd pair was sold and touches the quarterly lows at 1,2906 shortly after 8.
At the same time, the single currency is also losing ground against the yen: the cross Eur/Jpy touches quota 102,97, while on the front euro/pound the European ticket touches the lows of the last few months, bouncing on the support level 0,7996 and then resettled at 9 at 0,8018 am.
But looking forward to news from Athens – in these hours some glimmer seems to be opening – are the data from China overnight to move the markets. The victim, this time, was not the euro but the Australian dollar.
Starting from 3.30 tonight's slew of stats from Beijing photographed the slowdown of the dragon economy. Especially the data on industrial production YoY, up by 9,3% against 12% expected, the decrease in retail sales, up by 14,1% against the 15,2% forecast by analysts, the static nature of construction costs, unleashed a wave of pessimism in Australia, the Asian giant's primary supplier of materials.
The effects? A rush to sell the Down Under dollar to the safe shores of Swiss franc: the Australian ticket has slipped from altitude 0,9360 to 0,9320 over a few hours, consolidating a trend that has been going on for several months now.
On the front euro/dollar, the day promises to be very hot: at 11.10 data will be communicated Italian auctions of 3 and 12 month Bots, while at 14.30 annual and monthly US producer price figures will be released. at 15.55 instead it will be up to the University of Michigan to publish the measure of inflation expected over the next 12 months. The day closes on the Eur/Usd front, at 16.30 pm, with the report ecri, an indicator of American economic growth, which however should not weigh heavily on the market.
The day promises to be important, however, for base-based trading canadian dollar: alle 14.30 the rate of Participation, of unemployment, and the change in the level of employment they will allow for upward movements in the local currency should the statistics announce an improvement in the macroeconomic picture.
