Forex - EUR/GBP, GBP/USD Flows: UK retail sales disappoint; Cable longs switch to EUR/USD?

 09:40 (GMT) 19 Jan

  [Forex Flows]

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EUR/GBP, GBP/USD Flows: UK retail sales disappoint; Cable longs switch to EUR/USD? (0100-WWDT-C01)

UK retail sales took a bigger step-down even than we expected, the underlying message suggesting that it's more than higher prices putting the consumer off. The numbers are also likely to weigh on expectations of GDP next week. The upshot is that GBP is modestly weaker, though as we suspected earlier, the weaker USD overall is seeing Cable longs just switching into EUR/USD by giving EUR/GBP a lift

Forex - EUR/USD, USD/JPY Flows: jobless claims at post 1973 low ... but

 13:53 (GMT) 18 Jan

 [Forex Flows]

You have to go back to 1973 to find an initial claims lower below today's 220k, but with a lot of estimated input due to the weather disruption last week the market was not in a hurry to react and will be braced for revisions next time. Housing data was mixed (and a shade disappointing), but it's inflation and especially wages that will steer thinking in coming weeks and months and there is nothing here to stir the FX market either way.

Forex - AUD/USD, AUD/JPY Flows: Home loans beats expectations to lift Aussie

 00:41 (GMT) 17 Jan

 [Forex Flows]

Home loan approvals in Australia for November rises 2.1% m/m vs an unchanged estimate, rising from a previous decrease of 0.6%. That managed to lift the AUD/USD to intraday high from the good consumer confidence survey ealier at 0.7975. However this level has turned down buyers on numerous occassions since Friday, and a breakout will easily reach 0.80. The upbeat housing data brings AUD/JPY above 88.00 with bulls pushing for higher lows since last week.

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